1031 or keep raise rent

[Steve Janiak]

I'm new to bigger pockets and I've done well buying rentals by luck back in 2011-2104 when the market was down. I own a rental in Gulfport FL and owe 130K with 30 year fixed 4.5% and its worth 200-250K. Current tenant is moving and pays $1200 so I barely cash flow but I only paid 85K plus 35K initial repairs paid for by HELOC on primary. Trying to decide 1. Cash out while market is hot and pay down my HELOC which I've used for deposits to buy 5 rentals in Tampa area 2. Do a 1031 exchange to buy another property in a better area of Tampa like Oldsmar/Wesley ChapelDunedin/Palm Harbor where I can get higher rents, potentially better tenants, lower crime and/or better schools 3. Keep this house and raise rent to ~$1400 which should be doable Any thoughts?! Thanks, Steve

[Lawson Ott]

@Steve Janiak

seems you are asking for opinions.

there's no concrete answer.

but if it were me, i would keep it (and maybe raise the rent as high as the market will bear.)

any cashflow box is a good cashflow box. if it brings you $1/ month net profit, keep it.

i'd just find others to add to it.