Sell leverage home equity or Hold?

4 Replies

Looking for suggestions & your opinion - Thanks in Advance!

Tenants moved out, have spent a good amount ($7-10K) to renovate the unit. At present, I've almost $200K equity on this unit - Should I sell it using 1031 exchange & use that money to buy bigger unit or units OR just rent it out again with some $200-300 cash flow?

Thanks @Dave Foster .

I'm also inclining towards selling the unit.

If things go as expected, I might end up with $200K, after paying remaining balance to the bank.

I'm exploring/searching property or properties with the price tag of  ~$600K any state (putting down 25%) where I can get a cash flow of around ~$1000/month after paying all the expenses including property management.

Is this doable? OR just rent it out increasing rent & getting maybe a cash flow of around ~$400/month.

Please help me with ideas - I'm doing lot of calculations in mind & get confused :(

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