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Updated over 6 years ago on . Most recent reply

User Stats

17
Posts
2
Votes
Jennifer Guertin
  • Baltimore, MD
2
Votes |
17
Posts

Time to sell sfh and move into multi family?

Jennifer Guertin
  • Baltimore, MD
Posted
Hi everyone. We have a sfh (former primary residence) grossing $425/month and with over $140k equity (15 years in possession) and I am finding multi family homes in same area for slightly higher monthly cash flow with long term greater return because of having more than one property to rent. We also have a primary home with over $100k equity (5 years in possession) and are considering selling one or both to house hack a multi family and eliminate or significantly reduce mortgage. We bid on first multi family with fha and lost and understand buyer was wary of fha backed loan. Question: would you recommend we continue to bid with fha loans on multi families, sell one or both sfhs for more cash or continue to save to have 25% down?

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