Updated about 7 years ago on . Most recent reply
Time to sell sfh and move into multi family?
Hi everyone. We have a sfh (former primary residence) grossing $425/month and with over $140k equity (15 years in possession) and I am finding multi family homes in same area for slightly higher monthly cash flow with long term greater return because of having more than one property to rent. We also have a primary home with over $100k equity (5 years in possession) and are considering selling one or both to house hack a multi family and eliminate or significantly reduce mortgage. We bid on first multi family with fha and lost and understand buyer was wary of fha backed loan. Question: would you recommend we continue to bid with fha loans on multi families, sell one or both sfhs for more cash or continue to save to have 25% down?