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Updated about 4 years ago on . Most recent reply
![Michael C.'s profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/324702/1694867639-avatar-mike614.jpg?twic=v1/output=image/crop=3024x3024@135x0/cover=128x128&v=2)
Should I sell my duplex? Or refinance and hold
Numbers
Bought it for 175,000 a couple years back
Down payment was 18,000 plus 20,000 fix up
Now I owe 135,000 , it just got appraised for 242,000 , in this market I could sell it for 250,000
One side covers the mortgage and the other side is pure profit
Easy to rent, popular area , had somebody signed the lease sale day somebody moved out
If I list it my notifications will go crazy over 100 responses
Not bad for my first one. But now I’m in a middle of a refinance, haven’t closed yet , having second thoughtsafter the appraisal
Most Popular Reply
What I did was to hold my properties for the long-term, using cash-out refi to pull the cash out to buy more properties. The math shows that this increases the rate of return and grows my wealthy faster. Good luck to you.