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Updated 10 months ago on . Most recent reply

User Stats

7
Posts
3
Votes
Jared Van Horn
  • Medford, OR
3
Votes |
7
Posts

Keep or sell?

Jared Van Horn
  • Medford, OR
Posted

I just finished redoing 2 duplex on one lot. Each unit is a 3/2 with 1100 sq ft each. One duplex had a fire in it and I had it down to studs. New everything beyond studs. Custom black oak cabinets. Very modern and no corners were cut. Back duplex got pretty much a full makeover from sheetrock on. All units look the same. I have right at 700,000 into them with projected rent at 1700-1850 per unit. Each unit has a yard and patio. I have a hard money loan through a family member and that is included in that 700k.  I can sell the units hopefully for about 840,000 before realtor fees of 5 percent and whatever I'll be taxed on. Am I silly for wanting to sell it and put it towards my next rental or should I be trying to keep this? The 700k loan is kind of a scary thought rn. I've flipped about 6 houses but now I'm wanting to do them and hold. I just rented out my first property and want to continue and grow. 

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