Should I make that move?

[Akshay Bhaskaran]

Hello RE Investors,

In sincere need of your advise for my strategy below:

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Current scenario:

• - 1 primary home --> valued at around $500,000 - $550,000
• - 1 investment property (town home) --> valued at around $250,000 with a positive cash flow of $200
• - Single income, and no kids.

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Strategy:

1. - Sell the primary home for around $500,000ish (based on the market value) and downsize our living to a 2-bedroom apartment in a nice locality near downtown
2. - Take the net proceeds (after remaining mortgage, broker fees etc., HE loan payment) around $120,000
3. - Invest that $120,000 in 2 more town homes around the same range ($250,000 each) with a cashflow

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Goal:
Selling my 1-Liability (primary home), and investing in 2-Assets (investment properties). At the end of this, I'd like to have 3 investment properties (3 assets) that cash flows
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Points supporting this decision:

1. - Current mortgage has gone up (close to $3000/month - PITI)
2. - We need a better bigger home in the future - a dream home for which we can wait and save more (if we downsize now)
3. - Want to build assets now by taking risk as we don't have kids now.

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Do you think this is a good strategy to take in the current market? Am I being greedy here or playing the game right? Am I letting go of my current house to buy something new that I never know how it's going to perform?

Sincere thanks in advance!