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Updated 4 months ago on . Most recent reply

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Nicholas Mozg
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1031 exchange or keep

Nicholas Mozg
Posted

I own a duplex that needs about 70k Reno in one apartment to get it in good shape to rent.  Rent would increase from 1250 to possibly 1500.  My other option is sell after doing some minor repairs around 5k.  I think I could sell for 300-330k with about 170k still left on the loan.  Other bigger expenses are most likely to come in the near future.  I think I could 1031 exchange up to a larger property and clear the same net each month and not have to put 70k into a new property.  Any thoughts?

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