Sell@breakeven & buy better cashflow - Posted by BOBC(MD)
Posted by BOBC(MD) on January 10, 2011 at 23:16:15:
I have been contemplating selling 5 of my houses I bought and renovated about 4 yrs ago. I can sell all and break even or even make a little profit. They are all currently cashflowing about $250-$350 a month off an average $1300 mo rent.
Lately there have been other properties in my same farm area I can buy and haved nicely renovated for a total investment of $65-$75,000 that will cashflow $600-700 mo when rented.
I am not able to buy anymore due to having all my cash tied up in properties. My sole lender will only allow 5 loans to me in such a small area so i must sell to get new loans.
I have been at it about 10 years now and can see that buying some of these low priced houses for the cashflow would be a real help in the long run.
Anybody else making the decision to clean house and get some of the historically low priced inventory?