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Updated over 6 years ago, 07/30/2018
Should I sell Utah property for Multi-family in Orlando?
Hi All,
It's been a while since I came on here. I have a single family home in Tooele, Utah. It's paid off, and currently get $1550/month. The home I estimate can be sold for ~$230K-$250K.
I'd like to get some advice on strategy. I'm contemplating if I should sell my house in Utah, and use that money for down payment on a larger multi-family unit in Orlando or maybe Tampa?
It seems Orlando and Tampa are some rental markets.
OR....should I just hold my Utah home forever, and just save up enough down payment for another investment property, which could be a while.
Just curious what strategy is best, basically. Whether to just gather up a bunch of properties, or keep selling to upgrade to more and larger multi-family units.