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Updated over 4 years ago,

User Stats

2
Posts
0
Votes
William M Peek
  • Flipper/Rehabber
  • Saginaw, MI
0
Votes |
2
Posts

Should I sell or should I keep?

William M Peek
  • Flipper/Rehabber
  • Saginaw, MI
Posted

Ok, I bought a investment about 4 years ago. I paid 30,000 dollars for it, put in about 25,000 for new roof, furnace floors etc. Essentially a complete overhaul of the house as it was a foreclosure. My friend who is in real estate told me right now would be a great time to sell it. He feels I can get a price tag of 139,000 for the area with the comps. I currently rent this out for 950 a month, I am also currently renovating the house I live in now (right next door to the house I mention) where it too was a foreclosure. I paid 85,000 have about 35,000 into it and he is saying I could get around 180,000. MY question is, do I sell them both now and look to invest this money elsewhere? I was thinking maybe into some MDU's? Thoughts, suggestions?

William

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