3 Family Cash Cow with tons of equity: Keep it or sell it?

[Jeremy Bailey]

We've owned a 3 family rental for 10 years. It nets about $15k per year. We owe $113k and it's currently worth $350k-$370k. My wife and I are struggling with deciding to keep it or sell it. I'm a Realtor so the cost of selling is relatively low.

...and if we sell it, then what? 1031 into something else? Future retirement home in Florida(to be used as a rental now)?

Pay the capital gains and put that money back on our HELOC and wait for the next investment opportunity?

please help with ideas and insight from the vast amount of knowledge and experience within this group. Thanks!

[Tina Tsysh]

Have you considered refinancing it and getting some cash out? You can put that cash as a down payment on another property (possibly your retirement home in FL but keep it as a rental until you are ready to retire). You can have cash flow from a current property and use that property as your leverage for your future investments. That's how the wealthiest people in real estate started. Don't sell your deals unless they are a disaster; rather keep the properties that you have and keep expanding your portfolio. It will pay off 100 times in the long run!