Should I sell it or refinance it?

[Abad Marroquin]

I bought a 28 Unit apartment in 2018. I have updated 90% of the units, increased rents and increased the NOI. Interest rate is 5.5% with a balloon payment of five years. Even though it a D class property, It's cash flowing nicely at this time. Sometimes I think I should refinance to get better terms and pull some money out to continue investing. On the hand, I'm tempted to sell it and then repeat the process again.

[Alan Feldman]

It really depends on what your investment strategy is. If you are following Brandon's "7 figures in 7 years" plan, you could sell and get into a 75 unit and live off the profit. However I have seen some 20-30 units that cashflow quite nicely. Sounds like you have one right here. Either way, IMHO I would refinance out of the balloon loan before it expires. Then you have some breathing room to decide next steps.