Skip to content
×
PRO
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
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
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 5 years ago,

User Stats

11
Posts
0
Votes
Jaromy Emery
  • Lender
  • Logan, UT
0
Votes |
11
Posts

Sell my only Rental?

Jaromy Emery
  • Lender
  • Logan, UT
Posted

I have one side of a duplex that I rent out. I used to live there personally until I moved to a single family home about a year ago. My problem is that I have some debt that is making my financial situation very tight from month to month even with the rental income. Debt includes student loans, a HELOC, some credit card debt, etc. If I sell my property, I could get out from under most of my debt fairly quickly, but I would no longer have any investment properties. I also don't know when I would be able to have the financial flexibility of acquiring any in the near future. What would you all do? I think I have three options:

1) Sell my only investment property to pay off the majority of my personal debts and start over

2) Keep my property and continue to rent it out and pay down the debt over several years

3) Look at acquiring an additional property to help with cash flow

Thoughts???

Loading replies...