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Rehabbing & House Flipping

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14
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Matthew Miller
  • Oakland, Ca
6
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14
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Sell or Continue to House Hack

Matthew Miller
  • Oakland, Ca
Posted Nov 1 2018, 07:53
I bought a house in Oakland CA for $645,000 in February of 2017. I’ve spent $50,000 on capital improvements (rental studio attached to house, new deck and kitchen on main house). The studio rents for $2000/mo. through short term rentals (Airbnb primarily). According to Zillow and Redfin with the updated improvements, the value is estimated at approximately $825,000. The question: do I sell now while the market is arguably still vibrant, pay off debt while keeping a net gain for reinvestment before a correction and rising interest rates , or continue to house hack this property, take out a HELOC (if and/or when possible) to further invest. * I have approximately $200,000 in personal debt between school loans and credit card debt. My goal is to create a real estate enterprise for passive cash flow and long term retirement. * this forum/podcast/blog is awesome. Thank you for any input you may have! Much appreciated!!

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