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Updated over 7 years ago on . Most recent reply

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Charles Huenergardt
  • Grass Valley, CA
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Sell or keep renting?

Charles Huenergardt
  • Grass Valley, CA
Posted

Bought a house last year with a guest house.  We've been renting out the main house long term and the guest house on AirBnB.  We're thinking about either selling the property or renting out both units long term.  How do we go about making the determination on what to do?  Our near term goals are to get more multifamily properties.  It's cashflowing nicely so our questions are do we sell and do a 1031 into a multifamily?  Or do we keep it and find another way to finance a multifamily?

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Brian Adzadi
  • Allentown, PA
404
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Brian Adzadi
  • Allentown, PA
Replied

@Charles Huenergardt

It all depends on how much multi-families are going for in your area. Your in Cali, so I am suspecting it must be pretty high. So a 1031 exchange would be a good bet to get the down payment needed to get into multi-families.

However, I am a believer in having your cake and eating it too. So personally, I would keep the property, use it for whatever generates the most amount of money. Whether its through Airbnb or a long term rental. Start saving the cash flow from the property and use it as a down payment for the next multi-family.

I hope others chime, because I really want to know what they would do.

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