Posted by Robert (NC) on February 20, 2002 at 06:54:55:
As with almost everything. It depends.
What are your long range goals ?
If you own 6 properties and are wondering what to do, then it might be time to find a good financial planner, or estate planner to help you figure out your long range goals. If you go this rought, find one that owns real esteate investments, since they will have a better understanding of what you are doing.
If you are building a portfolio of rental properties, do you want duplex’s, more SFH, or more up to an apartment complex ? maybe move into some other commercial stuff like a small office building. ?
So many things you can do, but you MUST know where you are going. I"m just getting started. My wife and I have laid out our short range, mid range, and long range goals and the results we expect to see from each one. As we go along we can then evaluate what to do with each property based on the goals we have.
So where do you want to be financially and in real estate in 5 years, 10 years, 15 etc…
P.s… Wish I was already where you are I’d personally sell the duplex, and look for a good deal on an commercial property AFTER starting a self directed Roth IRA through MId-Ohio securities so I could use hte IRA to invest in the commerical property.