Updated about 4 years ago on . Most recent reply
Next move to grow portfolio
I been investing for 2 years I bought a 3 unit and then a 4 unit. The 3 unit after getting all new tenants gets $3350 a month my mortgage is $1250 a month but I pay oil water and sewer for 2 of the units the other I just pay water and sewer. I think it's worth easily $200k I owe $125k.
my 4unit has separate utilities I only pay garbage. After remodeling 2 units I was able to increase rent from $800 to $1050 on one and $500 to $850 on an other. The other two have long term tenants that I did not raise rent on. In total this brings in $3375 a month my mortgage is $1650 and I only pay trash. It's should be worth $300k and I owe $208k This one also is close to a river and just recently the river flooded up to the sidewalk. Other than that it's a nice location decent schools too.
Not sure if I sure what to do next. Should I try to sell up , brrr or hold. I have $25k cash and growing to put towards my next property. I trying build my portfolio asap and do real estate full time. Any advice will be greatly appreciated.