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Updated almost 6 years ago,
Buy or sell rental property to buy another one?
Hi there,
I have the opportunity to buy a rental property outright but I would need to sell an existing rental property that has some equity but isn’t yielding much in monthly profit.
I’m thinking that to really start making money, having one mortgage free rental property is the way to go but I’m nervous! Especially since the new property is in Mexico, the existing mortgaged property is in Chicago and property tax increases are really eating into profits.
Any advice?