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Updated about 7 years ago, 10/03/2017

User Stats

27
Posts
10
Votes
Mark Oliver
  • Investor
  • Utah
10
Votes |
27
Posts

Sell recent purchases to prepare for crash?

Mark Oliver
  • Investor
  • Utah
Posted

I bought a house (family home) in Marin County, California, in 2014 for $775k.

Now worth $1.1 million.

I owe $585k mortgage on this property.

A few months ago I bought another property for $315k - it's a vacation condo in Lake Tahoe for personal use and is also used to rent out (vacation rental). Payments on this property are around $24k per year (this includes payments on a $70k equity, taken against my first property). I get about $14k in vacation rental money per year from guests.

I have about $25k in savings, not including 401k.

I now want to become a property investor. I'm looking to buy & hold around 100 properties eventually. (i.e. Rental properties that produce cashflow).

Considering that there is a high chance we are at the edge of a crash, and considering that I bought most of my property fairly recently - should I sell my first property, wait for the crash, then buy & hold some other houses/condos?

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