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All Forum Posts by: Kyle Beebe

Kyle Beebe has started 2 posts and replied 4 times.

Post: To sell or not to sell

Kyle BeebePosted
  • Posts 4
  • Votes 0

Well the property was my primary home, I have to refinance it to get my ex wife's name off it, and was going to refinance and hold as a rental. I have another rental that is a good cash flowing property. Looked like this could also be a decent cash flowing property but since I am renting it I would have to refinance as an investment property thus increasing my mortgage. Selling it would free up 200,000 in debt plus the 25,000 which I could get a couple multi unit properties with. I am relatively new to real estate investing and have heard that it is never a good idea to sell if the property is at least making you some money but in this case with the moving package my work offers and the debt that it would free up I think it would be. I have one multi unit so far and it has been good thus far but ultimately my strategy is buy and hold. Would like to do more of the BRRRR strategy.

Post: To sell or not to sell

Kyle BeebePosted
  • Posts 4
  • Votes 0

He just looking for some input here. I feel like keeping the property will be a better long term investment but the other part of me is having a hard time passing on aprox 25,000 dollars. I want thinking of unloading the property that would free up about 200000 of debt to buy more property. What do you all think? Any input is appreciated

Alright thank you for the info Brie! 

Hey BP team, 

So I am brand new to the site and to real estate investing. I recently bought a triplex and now I am hooked after seeing the power of real estate. The property brings in 2000 and the mortgage is 1143 (519 P&I 624 I&T), Put a new roof on the property so working on getting a cheaper insurance currently 1224 a year and the taxes 1602. I called my lender about my monthly escrow payment. So they are doing an evaluation to lower it. Wanted your guys opinion is it better to handle the taxes and insurance your self or let the bank handle it with escrow? Kind of leaning towards handling myself. Feel like I am giving the bank an interest free loan.  

Thanks for your help

Kyle