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Updated over 7 years ago, 06/01/2017

User Stats

21
Posts
12
Votes
Richard Forton
  • Rental Property Investor
  • Havre De Grace, MD
12
Votes |
21
Posts

cashing in my places to go big? local or out of state to reinvest

Richard Forton
  • Rental Property Investor
  • Havre De Grace, MD
Posted

I have been bouncing around this idea for a few weeks. I currently have a debt free duplex valued at $185,000 that does $2,000 a month and a 7 unit building that has a lean against the building for a personal business loan for about $160,000. This place brings in about $3,500 a month and is valued at $350,000. I am thinking about selling both of these and taking the estimated $450,000 and my personal money to purchase a large, 20+ unit, by putting 25% down. Been looking at the 1.7-2 million range. My only issue is I am north of Baltimore and the product around here is limited. And Baltimore city does not interest me at all!!!! Keep what I have? sell the debt free building to reinvest? sell both and go big? Also, go out of state? I just got back from Tampa and Houston nd saw many good properties. I know this is a good problem to have, I am just trying to make the next move to expand.

Thanks for any feedback!

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