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Updated over 4 years ago on . Most recent reply
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- Rental Property Investor
- Palm Beach County, FL
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Trying to double the number of doors
Hey everyone, so I purchased 2 three family properties at the end of 2018 as an investment (25% down in each - they were purchased separately). If I were to sell them today, with the market valuation in my area and the pay down so far on both loans, I could walk with a lot of cash.
In my area, I pay less per door if I buy a commercial residential unit. For example, A 6-fam, I would pay 75k-80k per door vs buying a 3 fam where I could be paying more than 100k per door. Looking to sell these two homes and with the proceeds, buy 2 6 family buildings. That way I can double my doors and possibly double my months cash flow. Besides the issue with 1031 which I am aware of, does anyone see anything wrong with this strategy? Thank you