Updated almost 10 years ago on . Most recent reply
Selling My House??????
Hey all, I am looking at the Idea of selling our primary residence and buying another "house hack" option (unidentified) The House we are selling we bought last year for $49,000 for us to live in and then move out after a year and hold as rental, However when we refinanced it a few months ago it appraised for $135,000... It should rent for $750
Should we...
A. Sell now, Pay the taxes, and use cash to boost investing?
B. Live in it for another year, sell, pay NO taxes, and then boost investing?
C. ??????????
I would Love to get others thoughts on this... We are leaning toward Option A because we hate paying taxes but I don't want to miss out either...
Most Popular Reply
It will take a 133 months to make $100,000 at $750 a month. Renting it out does not make sense. You would make that in 24 months.
Get over paying taxes. It means you made money. Pay as little as possible then move on to the next deal.