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 over 12 years ago on . Most recent reply

User Stats

42
Posts
1
Votes
Robert Del Rosario
  • Residential Real Estate Broker
  • Las Vegas, NV
1
Votes |
42
Posts

Looking for advice on 2 SFR rentals I own ...

Robert Del Rosario
  • Residential Real Estate Broker
  • Las Vegas, NV
Posted

Hello community! So I am looking for advice about 2 rental properties I have. I have bought both for about $185k back in 2007 (Didn't know much about Real Estate back then). Both of which are worth about $145k market now ... but both have a $145k mortgage. So I have lost my down payment for both but not exactly underwater. I currently have them rented out just enough to cover the mortgage. I was doing some reading and learning and have come to a conclusion that maybe my best bet would be to sell on a Land Contract gather what I can from those down payments and possibly create just a little bit more cashflow and use it to put down on an actual cashflowing property. Does that sound smart? It sounds smart to me ... but I still consider myself very amateur. I realize I may run into a due on sale problem, and will look more into it for better perspective. I would really appreciate any type of advice. Thank you!

Loading replies...