Should i sell by rental property and pay down my primary resi

Question

Not sure what to do. Should I sell and pay my primary residence or 2what should be my next move ??

My rental :

Appraised at $495,000

Owe $214,000

Rents now for $1800.00

Expenses : management, landscaping and pest control $$200 a month

892 sqft in zip code 91702

Pros : 30 minutes from work

Cons : too tiny for our family of 5

My primary :

Appraised at $515,000

Owe $356,000

Possibly can rent for $2700

Expenses : solar p $156,

pmgmt $150 maintenance $200

2700 sqft in 92344

Pros :large

Johnny Quilenderino · Answer

I sold from Boston Ma and picked up a 6 unit in Norfolk

Johnny Quilenderino · Answer

Have you thought about a 1031 tax exchange? Duplex or something else?

Patti Robertson · Answer

Congrats @Johnny Quilenderino! Multi units are thought to come by in Norfolk these days! What was your cost/unit?

Michael Valdez · Answer

@Johnny Quilenderino I did looking into other areas out of state, CA is just way too high

Michael Valdez · Answer

@Michael Donohue I did think about that, however I need to educate my self to see what areas in another state would work. CA is not possible just way to high.

Michael Donohue · Answer

I would think about cash out refi the rental and see if you can get two more.

Should i sell by rental property and pay down my primary resi

Should i sell by rental property and pay down my primary resi

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