Should I sell one rental property to have cash to buy a house?

#1

I have two rental properties. One is paid off and the other I owe 70k . I pay $495 on that loan plus $266 HOA and rent it out for $1200. Value on that property is 190k at this moment .

I currently lease and I have 110k saved for a down payment but that would wipeout all of my reserves.

Should I sell the property that I owe 70k on so I can have a bigger down payment ?

#2

How much house are you looking to buy?

1 Like
#3

Between $700,000-$850,000K

#4

@Jeremy Im looking to buy a ahoyar around 700,000-850,000.

#5

I would hesitate to sell a cash flowing rental property.

Can you pull out some of the equity to use as a down payment?