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Updated almost 9 years ago on . Most recent reply

User Stats

19
Posts
7
Votes
Mike Brewster
  • Investor
  • Forsyth, GA
7
Votes |
19
Posts

Mike from mid GA

Mike Brewster
  • Investor
  • Forsyth, GA
Posted

Hi everyone! I was gifted a rental house to me, by my parents and looking to get more into real estate. Definitely leaning towards rentals since I have kind of already started down that path LOL  

The house I have now, that they gave me, is owned by me free and clear.  Property tax value is 71000. It is A3 bedroom 1 bath Log Cabin. I can't remember right off the top of my head how much insurance is, but it is nothing crazy. It is currently rented, and I have no trouble renting it for the 750 a month.

 What should I do next? Should I try to sell it or should I somehow use the equity in the home to finance me buying more rentals and continue that way?

I have a couple options but would love to hear what you would do in my shoes. I own several other businesses and I am relatively financially secure , but always looking to make more money. 

Thank you!

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