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should i sell my duplexes?
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