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Updated over 3 years ago, 07/27/2021
Seeking Cash out advice!
So a friend of mine who is much further ahead in the investing game than I put the idea in my head to cash out of the first rental I bought in April and take that money, put it into other SFHs like HUD and make more on my investment dollar.
So the details:
Id be selling a 4 bedroom 2 bath 2 stall detached garage. Currently rented at $1,535/mo. I owe $80,000 on the mortgage. Without an appraisal yet, we think it’s be worth $200,000. So with realtors fees and taxes I figure I’d walk away with $100,000.
What would you all recommend?
What would be a wise investment for that $100,000?
Should I just stay where I’m at?
Should I buy, outright, 2 other units, in a C class neighborhood, HUD, and get $1,000/mo from them?
Thank you all for any thoughts and insight!