- Joined
- May 13, 2012
- Messages
- 1
We recently moved into a fixer-upper in a nice neighbourhood. We have done some renovations but would need to put in at least another $40,000 to make it of similar quality to the other houses in the neighbourhood. Over the last 1.5 years the homes on the street have increased approximately $300K - $400K. Even for our little house we would probably net $250K-$300K if we sold now.
The question is do we sell now, rent for a couple of years and and use the money to invest in multi-unit apartment buildings now?
The hope is that in 2-3 years we can refinance the multi-unit buildings, take out the money to buy a new home.
That being said, homes in our area are not going down anytime soon and it would take a lot more to get back in in 2-3 years (market is growing approx. 8%-11% per year).
Does anyone have any advice for us?
The question is do we sell now, rent for a couple of years and and use the money to invest in multi-unit apartment buildings now?
The hope is that in 2-3 years we can refinance the multi-unit buildings, take out the money to buy a new home.
That being said, homes in our area are not going down anytime soon and it would take a lot more to get back in in 2-3 years (market is growing approx. 8%-11% per year).
Does anyone have any advice for us?
