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Updated over 5 years ago on . Most recent reply

User Stats

11
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1
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Tania Kahn
  • Lawrenceville, GA
1
Votes |
11
Posts

Buy duplex or stay in a single family house in gwin. GA - help.

Tania Kahn
  • Lawrenceville, GA
Posted

Hello, I am trying to get into RE investing. I currently live in gwinnett, GA in a single family 4 bed 2 bath house. 1400sqft.  As a first timer, I am having difficulty in making an assessment of my current house. Never invested before and want to make sure I make a wise decision with my current house. Does it make sense to keep this house or sell it and use its equity to buy a duplex in the same state? please help. 30 years mortgage, 4.75% interest rate. Has 85K remainder left on this house (this does not include 48K -Hud Partical Clear Amount+Partial Claim Amount due to laon modification 4 years ago, house almost went into foreclosure but I was able to bring it back on track. Currently the house may appraise for 190-210K. I am assuming I have a bit of equity left in this house. My question to the community is, does it make sense to keep this house and house hack with one of the rooms as rental. Or sell this house and buy a duplex and house hack then. Really appreciate help from all the gurus out there. I live near mall of georgia. But I would like to move a bit closer to the metro area.

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