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Updated almost 2 years ago on . Most recent reply
Sell paid off triplex and reinvest out of state or larger building or?
I have an ocean view triplex in Orange County, CA. Value 3MIL and paid off; excellent location and strong rental market. Just thinking I'm not getting much income as income is about $7,000 per month before expenses (probably under market by about $1500, so income s/b $8500) . I'm thinking I would like to sell and get a larger building, where I can leverage my money and increase my income. However I'm in my mid 60s and the property is not a problem with tenant turn over and a waiting line if there is a turn over. I don't want a headache property. Thinking of a commercial building or a strip center but those would have to be out of state, opinions? Also have a duplex and 2 SFRs
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Great problem to have. You could work a 1031x by selling and buying; or keep it and borrow against it. I had rentals in Ca for years. The cash flow was always disappointing but the appreciation over 30 years made up for that!🤑