Selling paid off home to buy other properties and pay off debt

[Manuel Toledo]

Good day everyone,

I currently have a paid off home in Las Vegas I’ve owned since 2015.  Been renting it out since purchase and seen values go up.  I wanted to see what everyone’s take is on selling the home for its increased value also it is currently renter occupied and managed by a local property management company if that is of any value of interest.  But I was contemplating selling it to take the money to pay off consumer debt.  An reinvesting the rest to possibly purchasing 2 other homes for rental income.  I know I would be taking in less monthly but it would relieve me of monthly debt payments.  An possibly gaining value over time on two homes rather than one.  I am in this for the long run not for any quick flips or over night riches.

[Brad Bellstedt]

In my opinion, that sounds like a good plan so long as you actually use that money for paying off higher interest debt, can secure two low interest loans for the next purchases (if you're going to need to finance) and save/invest your new found disposable income. If you're strict on those 3 pieces, it's not a bad idea. Otherwise, I hate to encourage someone to sell a paid off, income generating property. The grass on the other side needs to be REALLY green to leave the grass you're on already.