Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 3 years ago on . Most recent reply

User Stats

2
Posts
3
Votes
Koray Kilic
  • Investor
  • Brooklyn NY
3
Votes |
2
Posts

Where to go from here? Brooklyn property with low cashflow

Koray Kilic
  • Investor
  • Brooklyn NY
Posted

I have a single family property in Brooklyn with a MIL suite that I originally bought to live in in 2018. right now its rented out.

  • MIL unit is 1 bedroom apartment = $1500/m
  • Main unit is 3 bedroom apartment = $3200/m
  • detached garage =100/m
  • Total cashflow 4800/m 
  • Mortgage + expenses  = 4500/m
  • Cashflow 300/m

I originally purchased this property for 870k with 20% down (roughly 174k) Right now its roughly worth 1 mil and I have 690k mortgage. It has appreciated roughly 130k since I purchased it, so roughly 3600/m in 3 years of appreciation (or 5% per year). So my question is should I sell this property and look for better cash flow or keep it and be patient? right now I would be able to sell it without any taxes since I lived in it the last 2 out of the 5 years. Thanks in advance!

Loading replies...