Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 3 years ago on . Most recent reply

User Stats

2
Posts
3
Votes
Koray Kilic
  • Investor
  • Brooklyn NY
3
Votes |
2
Posts

Where to go from here? Brooklyn property with low cashflow

Koray Kilic
  • Investor
  • Brooklyn NY
Posted

I have a single family property in Brooklyn with a MIL suite that I originally bought to live in in 2018. right now its rented out.

  • MIL unit is 1 bedroom apartment = $1500/m
  • Main unit is 3 bedroom apartment = $3200/m
  • detached garage =100/m
  • Total cashflow 4800/m 
  • Mortgage + expenses  = 4500/m
  • Cashflow 300/m

I originally purchased this property for 870k with 20% down (roughly 174k) Right now its roughly worth 1 mil and I have 690k mortgage. It has appreciated roughly 130k since I purchased it, so roughly 3600/m in 3 years of appreciation (or 5% per year). So my question is should I sell this property and look for better cash flow or keep it and be patient? right now I would be able to sell it without any taxes since I lived in it the last 2 out of the 5 years. Thanks in advance!

Loading replies...