New Member Introductions
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 5 years ago,
Do I sell my duplex in Cali to buy multiple doors in Midwest?
I'm looking for advice, my wife and I have been blessed to inherit a duplex from my father in-law in his passing and share this with her sister so we are 50/50 partners. My dilemma is that we own this 100% and cash flow $1200 a month so each party gets $600 a month once all costs are paid. I know this hardly sounds like a problem but my thoughts are as follows; The value is $450k so if we sell while California real estate is on this unrealistic high we pocket $225k cash and how many homes in the Midwest could we parlay this money with? I see all these posts and podcasts regarding 65k deals in the Midwest with various ways in buying with cash. I'm new to the rental business but am really looking for feedback from some of the pros as to what they would do if given the same choice. Is this a one in hand two in bush thing or should I pull the trigger?
Thanks, Dan