I've worked with New Western and it was good for the position I was in at the time.

@Sankalp GoduguYou're in a great position to invest in a Columbus multifamily property with your budget and clear criteria.

You can 1031 exchange it into multiple rental properties that will be positive cash flowing in a high appreciation real estate market.

HELOCs typically do not go above 75-80% of value and since the property was purchased recently they would not see that equity unless you did some major rehab to the property.

While his loan isn't assumable, you could structure a deal where you take over payments while giving him equity in a seller-financed second note.

Maintenance and potential repairs will also require a long-term financial plan and setting aside a contingency fund for such expenses.The steady cash flow, appreciation over time, and tax benefits can make a meaningful difference to your wealth in the long term, especially with the principal paydown on the mortgage.However, if managing the property from a distance feels too burdensome, or if you’d prefer the certainty and flexibility that comes with having less debt (especially given the high mortgage rates), selling and using the $100,000 in equity to reduce your loan for your next home may be the smarter move.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I always love to see the positive attitude - that's half the battle.

Hi Everyone,
I’m Wesley, a 57-year-old entrepreneur originally from Brazil. I moved to the U.S. 10 years ago and have since started and sold four small businesses. Now, I’m curious about real estate investing.
I hav...

Showing a property while it’s occupied is almost never positive.