To keep it to sell...?

[Chris Shelton]

So I’m at a stalemate. I’m currently living in Hawaii and own a duplex in Fayetteville, NC. My wife and I have a baby on the way due in about 7 months along with about $30k in debt. I want to get rid of this debt as quickly as humanly possible before the baby is born. However, the duplex needs about $4-5k worth of work and the two HVACs are pretty old and are basically living on borrowed time. The scenarios I’m playing in my head are:

A) Sell it as is so I’m not eating this extra mortgage each month

B) Get the place fixed up and keep it and hope the property management is able to get it filled

C) Get it fixed up then sell it for greater value which will take more time and money in the short term

One side wants to get rid of it and focus on paying off debt before the baby shows up and the other side knows real estate is a long term game and doesn’t want to give in when times are hard.

Thank you for your input BP!

[Mike Dymski]

It's a math exercise to determine if it's a good investment. Need to know the value and the rents and to run the figures through your deal analyzer. You are doing the right thing asking questions to gain knowledge. Absent that, our advice should be to sell. Can't keep what we don't understand.