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Updated almost 8 years ago,
Trading up rental properties
Hello,
This is my first post -I'm looking for advice on wheather to sell muy current multifamily properties that I started buying in 2011 to trade up for new rental properties.
I bought my first rental property (3) apartments 1 house on same lot for $465k it reacently appraised for +$1M all units rent for $5,500mo with +$20k yr positive cash flow
Second multifamily is (4) apartments and bought that one for $559k and is now appraised for arround $800k posotive cash flow of $15k/yr -for my third and final property I bougth a duplex16 months ago for $400k and it rents for $2,900mo it can be sold for $500 to $550 $8,000yr cash flow.
I currently have a total positive cash flow of $45,000yr -I bought all properties with a 30yr investment property loan with 25% down.
At the moment I could sell all three properties and keep about $1M cash -I'm currently debating if I should sell my current properties and buy other rental properties -however when I bought my first properties ROI was much higher than know (20% of downpaymet return) right now I would get 7% Return on my downpayment which would keep me in a very similar cash flow amount from rentals.
Any advice? -I'm new in investing in rental properties and could sure use some gudance.
Thank you
Felipe G.