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Updated over 2 years ago,
Should I sell my cash-flowing house-hack?
So I'm looking for opinions / advice / tips on a duplex I house-hacked back in 2018. Here are the numbers:
Purchased for $349,900, plus $25k in renovations.
Refinanced for $425k (currently owe $375k)
Currently rented for $4,700 per month ($1,500 per month cash flow after expenses).
I have a buyer willing to pay $600k in cash for the property, which would give her a 9.5% cap rate on her investment. In turn, this would allow me to pay off the mortgage, pay off about $70k in student loans, and still have $150k left to purchase another investment. On the other hand, this property makes me $18,000 per year in passive income.
Should I sell or hold??
Thank you!!
Alex