What should I do with my property?
Hey everyone I'm just trying to get some advice. I own a condo that I purchased few years ago for 500k, put 50k into it and it recently was appraised at 800k. My mortgage is about 2300 plus $800 HOA(yes I know that's a lot. I'm a single guy so I don't mind moving around.
I’m confused as to which would be smart decision, I’m trying to get into flipping homes realistically so your help would be appreciated.
Option 1 - Rent it out for $3500 per month (profit 400 per month) rent a smaller place for $2200.
Option 2 - Sell the place and buy two properties possibly a duplex.
Option 3 - Get a Heloc, rent this one out and buy another property.
I keep getting mixed suggestions from people around me so I figured I would ask you pros here! The only thing bothering me about this property is the 800hoa