Hi all
Lookings like I can list the 2 flat around $134900.. sell between $125-130. I owe $11800 on it.
These are the #s (attached)
It will need a new roof at some point and it was a nightmare to fix up. I do not think I want it anymore and would prefer to invest the cash.
Below is my rental budget WITHOUT the 2 flat. With the 2 flat it goes up approx $1000
2 flat cash flow analysis-prior to poss sale
September 8th, 2018 at 04:27 pm
September 8th, 2018 at 06:32 pm 1536427945
Unless there is something about this property that is not fixable - something like location or layout - I would be inclined to keep it. It's producing good cash flow, although you did not subtract vacancy, on your investment and on current value. You also have the tax benefits.
As long as you are working, I would take all the net cash flow from these properties and invest it into the market. In two years you will have exceeded the amount you would be able to invest if you sold the one property today and you will still have the same income from the properties. In addition, I would fully fund the retirement accounts available to you.
You will be in a better position to retire completely at the two year point. In your shoes, I would consider selling the house and downsizing into an "in town" house just before retiring. Get the mortgage if it makes sense, and then retire.
September 8th, 2018 at 06:38 pm 1536428327
September 9th, 2018 at 08:23 pm 1536521018
September 12th, 2018 at 03:07 pm 1536761279
September 12th, 2018 at 03:09 pm 1536761349
September 12th, 2018 at 06:21 pm 1536772904
I'm pretty sure if you kept it, you would have a lot of cash to invest. In your shoes, I would come up with a new goal and plan, called "Done at 50."