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Updated 3 months ago, 09/19/2024

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2
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1
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Abdiel Ocampo
Pro Member
1
Votes |
2
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Selling old house to buy new

Abdiel Ocampo
Pro Member
Posted

I have property that has about 100k in equity, I was thinking of selling  it and buying a newer one with a 100k down payment. The new property wouldn’t cash flow much but neither is the old one I have. This was really an accidental property that I’ve been renting for 8 years now to the same tenant. I would be about 160 dollars in debt again, the old house is 38k from getting paid off. My worry is the old house might be too much of a hassle to fix latter down the road and increase rent.my thought are that buying a newer one would save me remodeling hassels. The new house is a 2020 built and the old one is 1960. I’m just seeking for some input from the community and this is my only rental even though I do dream of becoming a real estate investor by acquiring rentals. 

  • Abdiel Ocampo
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