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Updated over 7 years ago,
Hold or unload a two family
Hello everyone,
Im interested in some opinions from experienced investors and will explain my current scenario. I recently sold my first two family and profited about $40k on it and I have that money saved. I own another two family that I bought two years ago for $135,000 and under todays current market have been told by multiple realtors that I can sell it for close to 225,000-230,000. My current rents are $850 and $800, it cash flows about $450 a month.
I have potential to put college kids in there and it will cash flow about $1500 a month(rents would go
Up to $1650 per side), or should i unload the house for roughly $220,000, after closing costs and mortgage payoff walk away with roughly $105,000 then sit on the money for some time or upgrade to a commercial property which is what I want next.
Please let me know what you guys think.
Thank you