Updated about 1 year ago on . Most recent reply
Selling old house to buy new
I have property that has about 100k in equity, I was thinking of selling it and buying a newer one with a 100k down payment. The new property wouldn’t cash flow much but neither is the old one I have. This was really an accidental property that I’ve been renting for 8 years now to the same tenant. I would be about 160 dollars in debt again, the old house is 38k from getting paid off. My worry is the old house might be too much of a hassle to fix latter down the road and increase rent.my thought are that buying a newer one would save me remodeling hassels. The new house is a 2020 built and the old one is 1960. I’m just seeking for some input from the community and this is my only rental even though I do dream of becoming a real estate investor by acquiring rentals.