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Updated over 4 years ago,

User Stats

6
Posts
3
Votes
Holly Hair
  • Specialist
  • Oklahoma City, OK
3
Votes |
6
Posts

Sell property to buy more or keep because it’s almost paid off?

Holly Hair
  • Specialist
  • Oklahoma City, OK
Posted

My husband and I have lived an unconventional life and as we both are close to 60, we realize we simply don’t have the means to retire. We have a small townhome we bought for $85K six years ago that is now worth $135k. It is almost paid off and has new everything: roof/AC/deck, etc. it’s right near the university, so very stable value. We’re wondering if we should hold onto it or sell it to buy more properties? (We do have about $65k cash to buy other properties and are even willing to dip into 401k to go the RE route. We’re just not sure what to do with this first property. Thanks for any insight or perspective...especially as we are late in the game.

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