To sell or not to sell? that is my newbie question....

[Account Closed]

As the title implies, I'm considering selling the first SFH I bought back in Aug'12. The reason being that I want to try my luck in the market, I want to buy/fix/hold and fix/flip properties. I've wanted to do it for a while now and seeing as my first purchasing experience was a success, I think Its the right move. Well, 80% of me does.

I currently have 30yr. fixed at 3.75% which I owe 67k on. I've had several real estate agents come out and place the house in the 120-135k price range(I did cosmetic rehab for the most part). I also have about 15k cash, ready to invest.

[b] My question is, should I sell this property and use the cash to buy 2 SFH to buy/fix/hold?

I would move in to one and rent the other. Or should I keep this one and try to "get in the game" a little later when I have saved more money than the 15k I currently have.

I'm afraid that if I don't act soon the deals will pas me by, and I feel that this is the best way to start investing soon! (and with proper funds in the bank)

[Steve Babiak]

For those suggesting a 1031 exchange - please stop suggesting that for somebody's primary residence. That is a scenario not eligible for 1031 exchange. Please read the next link:

http://www.1031corp.com/1031-exchanges-made-easy/1031-exchange-requirement