I Turned Down an Offer that woulda made me $201K

3 Replies

Today, I turned down an offer on my 16 unit multifamily building that would of made me $201,000. Why? Because I believe the cash flow this building will kickoff will feed me for a lifetime. And...30% in capital gains as tax and a $6000 prepayment penalty did not excite me. 1031 exchange may of worked, but, it sure is tough to locate a replacement property that would suffice. Thoughts?

you answered your own question.. if your not in the flipping business and your in the landlord business and you know and like the building keep it then..

Sounds logical and well thought out.

On a side note, buying a (replacement) property now that costs $200k more than you paid for your existing property is the same as keeping your existing property.

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