Selling my first property

[Thomas Handy]

Hi everyone,

It's been some time. Just busy with work and life.

But wanted to give everyone an update. My wife and I are selling our first place. Hate to let it go but the timing is right.

We bought the condo in 2003 while we were in Hawaii and now selling for close to 50% more than we paid ($182,000 to $320,000). We owe a little over $140,000.

I know we'll pay some in taxes, real estate broker fees, etc, but wanted to get some advice from the community.

If you had over $100,000 would you pay off one of your other rentals, thus getting more cash flow (I owe less than $20,000 on one of my rentals), or buy another rental to get more cash flow?

I don't want to get into specifics but trying to get some ideas. Work has kept me busy lately.

Thx,

Tom