- Is it a good plan to sell a Stick-Built Home which was bought along with Mobile Home Park? The main reason being it will clear 70% of my mortgage.
- This home doesn’t have a driveway. Will buyers prefer such home?
Yes, you should sell the single family home. Your market will dictate desirability.
I would sell it without question. Why does it not have a driveway and can one be put in.
The main reason you have for selling however is a terrible reason. If that is the primary reason why bother, you are simply taking dead money from grave and putting it in another. Depending on your loan conditions I would not be using the money to pay down the mortgage. Mortgage pay down is where cash goes to die. It is the least efficient/worst use of cash a investor can use. Depending on your mortgage interest rate most if not all investment vehicles will generate a greater return.
Think like a investor not like a home owner when deciding where to best put your money to use. Make it earn it’s keep. Do not let it die a slow death buried in income generating real estate.
If you decide to sell it check with your lender to see if they will allow it.