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Updated about 1 year ago on . Most recent reply
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When to get out/ move on on a property?
Hey all!
I'm now 1 1/2 years in on my first out of state rental property, a duplex, in Davenport, Iowa. It's in a rough part of town, ~C neighborhood, with a nice & reliable section-8 tenant family, with the other unit recently vacant via an eviction–costing a few thousands in turn over repairs. The property cashflows nicely, and has grown some equity. I want to build a long term rental MFR portfolio–not necessarily in Davenport.
Based on this info, my goals, me being new to this, and the numbers here on my deal: https://dealcheck.io/s/-MmV1dHjb59npcOnRFJV what would some of you do? Keep as a long-term rental, or 1031 into a nicer market?
Most Popular Reply
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- Real Estate Broker
- Cody, WY
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I don't recommend selling real estate unless you have a plan to invest the money in something that will produce a better return or otherwise move you closer to your goals.
What are your goals? How will you invest the money to get closer to them? So many questions!
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- Nathan Gesner
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