Contemplating a semi-pivot in my strategy...

[RJ Davies]

Hey guys and gals,
I'm looking for some unbiased input on what to do next. Here's the cliff notes to get you up to speed.
-Purchased a duplex in 2015 to house Jack
-Slowly(quickly?) Discovered that I don't like doing a lot of the things a landlord does and have problems with being emotionally detached about the business.
-Property has appreciated significantly thanks to SLC being hot.

I'm now 4 years into this. The idea has been suggested and pushed by friends (who aren't real estate investors) about cashing out. I'm not interested in that, but am interested in a pivot of sorts in my strategy.

The idea that has formulated in my head would be to sell the property I have, and use the proceeds to purchase 2, or more, properties in Logan, to be managed by a property management company. This should solve my personal hang ups about being a landlord, but still allow me to invest long term. The downside would be that I would have to devote more of my income to my own housing, but the income from the 2 new properties would offset that, and would allow me to put money together to grow my portfolio.

I have gone as far as running a property or two through the calculators here on BP with some guesstimates on the high end for expenses. It would be close to cash flowing with the MLS price and rents listed.

I guess what I'm really asking here is this:
Is this a viable strategy?
If you were in my position, would you do it?
What am I missing?

[Steve Rozenberg]

@RJ Davies That is a tough call. I always say the nice thing about real estate is there are no rules and you can do whatever you want, and the bad thing about real estate is there are no rules and you can do whatever you want. 

The challenge is that the only strategy that will truly work is the one that you have to get you to your own specific goals. I would slow down and really think about what your goals are for being in real estate and what you want your life to look like as a result of owning properties. 

From there you create a strategy to get you there. If you ask 5 people we all know you will get 7 different answers. And bring non real estate people in and the those numbers go off the charts. 

I would focus first on the end goal and then decide from there what is best for you and the plan to get you there. Buying / Selling / Re-fi'ing these are all great if there is direct intent and purpose. If not it can just be busy work, and busy does not guarantee forward movement, and definitely not forward in the right direction.

I was very similar to you before asking and getting tons of advice from people. The problem was this was their goals and agenda not mine. So did not get me closer to my goal it actually took me further away.

Sorry to not have an answer... But that is your answer