All Forum Posts by: Ben Norton

Hi all, first post on BP!

Wondering if I should hold or sell my four-plex(4 1br/1bt units). I purchased the property in January 2020 for 250k intending to rent and hold. I rent three of the units and I am living in one of the units paying rent to myself. A buyer offered 325k about a month ago and I said no thanks. The same buyer reached out today to offer 350k. 

Currently total rents are $2680 per month. Mortgage, taxes, and insurance are about $1100 per month. CAPEX is about $400 per month.

$185k left on the mortgage.

What would you do? This is my first investment property so any and all advice/thoughts are welcome. 

I’m primarily wondering 2 things: 1) Should I sell and use the proceeds for down-payments on other properties? 2) Is this an indication that my rents are too low?

Thanks in advance!