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Updated almost 3 years ago,
Keep or Sell?? What would you do?
I have 2 properties:
first one SFR, equity approx 150,000 after selling costs; I net about $700/month rent after all expenses. which is about 5.5 percent on my equity
second one is a old single wide mobile home that I get about $500/month rent after expenses; the underlying land is now worth about $175,000; which is total equity for me, since it is paid off; so that would be about 3.5 percent on my equity
properties right beside each other in a very hot area, which just keeps getting hotter every year, with properties harder and harder to find there.
Cannot take anymore cash out of SFR because it is already at 50 percent, and hard to take cash out of a single wide with land.
Looking for opinions, keep or sell? If you say sell, where would you invest the proceeds?