Should I sell my Duplex now?

[Nick Weisend]

Here’s the situation.

Bought my first duplex a little over 2 years ago in a B neighborhood in NE Ohio.

Interest rate is 3% and the payment is 2100$ a month but the house of it were not owner occupied would bring in 3200$-$3600 a month however most of my mortgage is paid for in the other side being rented.

Comps in the area are going for $400kish +- 20k or so based on how up to date they are.

I’m considering selling because I will walk away with a minimum of $100k in profit after only two years. My thought process is sell now and buy back in next year.

Looking for honest feedback. I know it’s near impossible to time the market so I don’t need to hear that just want opinions on what I should do. I’m 28 and this was my first investment property and I’m hoping if I sell the proceeds can help purchase my next two.

[Ricardo Hidalgo]

Quote from @Nick Weisend:

Here’s the situation.

Bought my first duplex a little over 2 years ago in a B neighborhood in NE Ohio.

Interest rate is 3% and the payment is 2100$ a month but the house of it were not owner occupied would bring in 3200$-$3600 a month however most of my mortgage is paid for in the other side being rented.

Comps in the area are going for $400kish +- 20k or so based on how up to date they are.

I’m considering selling because I will walk away with a minimum of $100k in profit after only two years. My thought process is sell now and buy back in next year.

Looking for honest feedback. I know it’s near impossible to time the market so I don’t need to hear that just want opinions on what I should do. I’m 28 and this was my first investment property and I’m hoping if I sell the proceeds can help purchase my next two.

 I would sell if you have an opportunity lined up that can give you an extra 20-35% higher equity position with better cashflow and appreciation. I have sold off all of my properties because I had opportunities for higher returns than holding them.