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Updated about 9 years ago on . Most recent reply
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Selling - best use for resulting $300k capital
Hello BP Community!
I am planning on selling one of my properties because I believe I can find better use, and better monthly cash flow, with the equity. When I sell, after all fees, $300k will be available as capital. I have a few options and would love your feedback or ideas for other options!
Option 1: Paydown and refi a loan on another property by $300k to increase monthly cash flow by $1000.
Option 2: Buy one (or more) new properties with monthly cash flow of at least $1500.
Option 3: Use the $300k to lift a single family home I own and create an extra 2 br unit. This would then be a duplex with a 4 BR unit up and a 2br unit down. Via regular rent, monthly cash flow would increase by $2500. Via AirBNB or short term, monthly cash flow would increase by $4000.
What would you do? I'm leaning towards option 3, as this capital would increase cash flow most and also increase value of the property.
Thanks!
Michael
Most Popular Reply
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With that much cash, I might consider going the apartment building route.
- Russell Brazil
- Russell@RussellBrazil.com
- (301) 893-4635
- Podcast Guest on Show #192
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