To sell or not to sell? That’s is the question.

[Jonathan Perez]

So I’m moving from Columbia SC to Jacksonville FL. I currently have a duplex here that I’ve been renting at 850 a unit. My mortgage is 960. I bought it for 120k in 2017. Its recently been appraised at 135k. It’s been renovated on both sides with hardwood floors vinyl plank in the bathrooms. One unit has the vinyl plank in the kitchen. New washer and dryer in one unit. New water heater in one. And new HVAC in one. One water heater is old, the other HVAC is also old. I had a mold issue that was cleaned up last year in one unit. And I’m just finishing up a claim on the second unit wit the the same mold issue that was cause by a bursted pipe that connects to the water heater. Currently in the rebuilding part of the insurance claim.

I will be moving to Jacksonville FL in the next month. I feel like I’ve put more money into this first deal than I should’ve but I learned a whole lot in the process. I was thinking about putting it up for sale and taking all the lessons I’ve learned along with whatever I can cash out with and moving along to the next one in Florida. Apart of me also feels like since I’ve invested so much money on this first one tho that I might as well keep it and let it work itself out. What do you guys think? What are some things to consider? I plan on getting my license down in Jacksonville Florida and becoming an agent. I will use the money I make as an agent to buy more investment properties.

[Jody Sperling]

It reads like an emotional choice to sell the current duplex. The tone of your writing conveys disappointment at the cost of doing business, and from an outsider perspective, I see that you have already encountered more than 50% of the possible capital expenses the property can throw your way.

The property is generating $750 positive cash every month, which is an amazing sum. Holding now gives you huge tax benefits, and the property will likely continue to appreciate. From my perspective you'd be short-sighted and fear-motivated to sell.

For the most part, you can self-manage a property, even from a distance, if you have built a few decent relationships with area investors (or can do so moving forward), so don't sweat the coordinates on a map. You are in a good spot to hold and win. Best of luck whatever you do!