To sell or not to sell
9 Replies
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Benjamin Palasek Investor from Grand Rapids, Michigan
posted almost 3 years agoJon A. Investor from Near San Diego, California
replied almost 3 years agoCould you refi and buy more?
Benjamin Palasek Investor from Grand Rapids, Michigan
replied almost 3 years agoJoe Villeneuve from Plymouth, Michigan
replied almost 3 years agoIf you sold it, how much cash would you walk away with
Benjamin Palasek Investor from Grand Rapids, Michigan
replied almost 3 years agoTim B. Investor from Cottage Grove, Oregon
replied almost 3 years agoif you do not need the cash to live on then i would do a 1031 exchange to avoid paying any capitol gains taxes.
James NA Investor from Houston, Texas
replied almost 3 years agoWhatever it is, it's a nice problem to have. Good luck.
Joe Villeneuve from Plymouth, Michigan
replied almost 3 years agoOriginally posted by @Benjamin Palasek :
I owe 60K. Comps in the last few months are about 150. Is capital gains tax still 15% if your a small fish?
Don't sell it. Refinance it...like it was mentioned above.
Sell Numbers:
* 90,000 Profit (if you sell full assumed ARV)
* -14,000 15% CG Tax
* - 9,000 6% RE Commission
* - 4,000 Closing Cost
$63,000 Walk away.....and no cash flow
or
REFI Numbers:
* 112,000 Refi 75% of $150k ARV
* - 60,000 Existing Loan payoff
* $ 52,000 Walk away....and you have your cash flow still coming, and...
you have $52,000 for another property.
Gilbert Dominguez Investor from Chicago, Illinois
replied almost 3 years agoI would agree it makes more sense to refi and buy another property. Hopefully you will also be able to get into something that will also cash flow positively. Over the long haul this will cause you less work, have to buy less number of properties and add to your cash flow totals. You are in for the long haul right? There is nothing like the tried and proven.
Benjamin Palasek Investor from Grand Rapids, Michigan
replied almost 3 years agoFree eBook from BiggerPockets!

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