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Updated almost 5 years ago on . Most recent reply

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Lillis Hawker
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Should I sell my rental property?

Lillis Hawker
Posted

My husband and I are in our later 20s we currently own a rental property that could sell for $180K or more. It brings in $1,475 a month. We do not have a mortgage on this home. We are moving to Arizona for my husbands job. His starting pay is only $45k a year. Should we sell the rental to buy a home for ourselves, keep the rental as an additional income, or sell the rental and use the money to put down payments on multiple properties?

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Mark H. Porter
  • Investor
  • SC NC, VA
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Mark H. Porter
  • Investor
  • SC NC, VA
Replied

Why not sell the rental property when you move to Arizona and 1031 it into a multi valued at $600,000?  If you can get a 4-unit you could live in one of them for a year and save some money.

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