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All Forum Posts by: Sarah Karakaian

Sarah Karakaian has started 10 posts and replied 33 times.

Post: To buy or sell our NYC property to kickstart our investing career

Sarah KarakaianPosted
  • Rental Property Investor
  • Columbus, OH
  • Posts 34
  • Votes 22

You all are so creative and informed. Thank you very much for weighing in and helping us sort through all the options. 

It seems as if we've done a pretty good job with this property and whether or not we rent it out or sell it, we've got a good start to understanding this industry. We do have to examine our goals and see if that guides us to the right answer for us. At the moment, we're leaning towards selling and buying a couple duplexes in a newer area. If any of you have opinions on Portland, OR vs. Denver, CO, we'd love to hear your thoughts! :)

Post: To buy or sell our NYC property to kickstart our investing career

Sarah KarakaianPosted
  • Rental Property Investor
  • Columbus, OH
  • Posts 34
  • Votes 22

You all are so wonderful.

To give you more detailed info...we bought the Queens home for 470 (we still owe about 423) and can possibly sell for 900....

Or we can possibly get $4,500 a month where our mortgage is $2,500...we would have to take into consideration managing costs. 

Markets were looking into are Portland, OR or areas of Denver, CO. 

We have more work to do and more number crunching to do...how much of it is numbers definitely telling us what to do and how much of it is...both options can work...you just have to take a leap?

Post: To buy or sell our NYC property to kickstart our investing career

Sarah KarakaianPosted
  • Rental Property Investor
  • Columbus, OH
  • Posts 34
  • Votes 22

Hi all!

I'm new here, but a long time listener of the podcast. My husband and I run a contracting and design company but have wanted to start an investing career. We live in NYC and it's becoming increasingly harder to run our contracting business from our tiny house. We're ready to pack up and move to a different market...but do we sell or rent out our Queens property?

If we sell, we can make almost double what we bought it for in 2012. We would then use that money for our move and to purchase a multi-family and a flip to get our investment career going. (Happy to get into detail if anyone is willing to help us with this decision).

OR we rent it out. We could probably make double what the mortgage is and have an asset in NYC, but we'll have to get someone to take care of the property, bc we're hoping to move to the west coast. 

What's the best way to weigh your options? If we sell, that's it - we no longer have an asset in NYC, but we have more money to get our life started - or do we think more long term and keep it?