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Updated over 1 year ago,
Ideas on how to proceed on a duplex
Hello- I have a duplex (2 doors but separate deeds) fully renovated, one side is leased that cash flows with a 30 year note and the other side I completed the rehab this week. With the interest rate increase I am thinking of some exit strategies:
1- sell the newly renovated unit so I only keep half of the duplex (I would profit from the sale);
2- sell the entire duplex (2 doors): I can offer subject To financing (in a LLC with a 7%, 30 yr fixed note) that cash flows on unit (1) and the second unit that is renovated the buyer can use a 3rd party lender to purchase (I would profit from the sale of both units);
3- rent out the second unit for limited cash flow and keep the equity; then complete a cash out refinance to get 75% of my investment back.
Thanks!