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Updated about 4 hours ago on .

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1
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0
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Beth Chambers
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1
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should i sell my duplexes?

Beth Chambers
Posted

hi 

3 years a ago i purchased a 15 acre mixed use property in disrepaire.

it consists of 55 mobile home/RV lots

3 duplexes 

a  3 bedroom house

a  2 bedroom house

a store

a shop

a lundery mat

when i bought the property in was really really poor shape.   My wife and i have worked hard.  It is now in poor shape.


I am considering selling the duplexes.  I think i could retire our debt and have a chunk left over.    


With the leftover i think i can fix the septic,  fix the worst of the remaining  eyesores and add about 20 rv spots.  

The county will let me add the spots.  I  have no idea how much 20 spots would cost to install.

Pros...

no debt

cheaper insurance

someone else can maintain them.

Cons...

i lose a chunk of income

my park is smaller

It seems like a no brainer but i would like to here your thoughts

thx  Russ