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Updated over 8 years ago,
*INVESTING QUESTION* Rent long term VS Selling.
Hi BP members! Thank you in advance for any inputs.
I am the owner of 3 rental properties and I'm debating on what my next investment strategy moves should be. I'm fairly new in real estate investing and I been leaning towards selling all 3 properties before the end of 2017 and that is why I need advice from season experts in this area. All 3 properties are mortgaged, have decent equity built in, but my monthly net rental income margins are low for the time and money I have invested. My ultimate strategy is to increase my cash flow. Just seems my current model of renting is producing cash but a very slow pace. That is why I'm debating if selling, and then reinvest my invest strategy is just flipping properties, no rentals might be more profitable and I have experienced in completely rehabbing 2 of the 3 properties already.
1st property - owner occupied Duplex -
Owner occupied in 1 apt.
Rent the other apt for $900 monthly
Mortgage is $1050
mortgaged is 110k
appraised value is 140K
2nd property
Single Family
Mortgage is $665 monthly
Rent is $850
Mortgage is 60K
Appraised Value is 70K
3rd Property
Single Family
Mortgage is $625 monthly
Rent is $950
Mortgage is 70K
Appraised Value is 100K