best structure for this sell - Posted by chris
Posted by chris on February 25, 2001 at 01:22:58:
I am new to the type of creative investing that I am learning about here, but I do have a rental property that I obtained traditionally. It has a mortgage balance of $50k and a value of about $70k.
I owned it free and clear and then used the equity in it to purchase a quadraplex that I get positive cash flow on, and live in for free. However, now, with taxes and interest, I am losing $100/mo on the first property. I am still living for free and netting cashflow when you consider the two properties together, but I feel like Im losing needlessly on the first property.
Should I sell that place and use the capital to get into another positive cashflow situation somewhere else? Its what I feel makes the most sense.
If so, would a traditional sale be the best means?
Chris (25 y/o newbie)