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Updated over 3 years ago,
Should I sell my house to kickstart my RE journey?
Hey guys! I’ve been in real estate for 4 years. I just bought my first house last year. I got in right before prices in the area skyrocketed. On top of that I got a very good deal. I bought my house for 140k and right now if I add about 30k and sell I could sell for about 260-265k. I’ve always heard flippers on podcasts say they wish they kept all their properties as rentals. But obviously they needed an income as well.
My questions is, should I keep my 3 bedroom 2 bath house as a rental and try to buy 1 more property this year or sell it and use the profits for potentially multiple properties this year? I do like the home and area but I already have another house lined up that’s off market a few houses up the street that will also be a killer deal. And if I sell I’ll have more capital freed up. Right now I have virtually no capital but 35k in credit I can use if I flip this house and then pay off the credit. I’ll also be a licensed realtor soon and so can save a little that way.
Any help would be great! Thanks.