Posted by bill (OH) on February 17, 2000 at 04:52:34:
I can’t make sense out of your math—although I would assume that onc you mov out, your profit will go up. I would guess that you don’t have much equity in the property, so instead of encumbering the property with more debt (which would have to be paid off before you can sell the property)…try this. Look at your taxes and add up all of the costs that you can write off and depreciate from owning the fourplex. Often times, this results in enough money to for a downpayment. The other option is to do a wrap around mortgage, but I’d only go that way if the other property has a lot of equity in it—at least 20%. Houses and apts. have ways of throwing expenses at you at the worst possible time so keep some equity for emergencies. Good Luck!