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Corriene McKeown
  • Sioux City, IA
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To sell or hold in Denver

Corriene McKeown
  • Sioux City, IA
Posted Dec 10 2017, 11:07

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Hi Folks. 

I know the Denver market is complicated but looking from advice from experienced investors. 

Just wondering if you can help me settle an argument with my husband about what to do with our rental property we have in city park.

We bought the home in 09 and due to the economy we moved overseas. The house had been a rental since.

Now we have moved back to the states and have 3 small kids. We are living in Iowa in our modest vacation home and own a condo in the springs which isn’t doing great but breaking even.

Anyway due to the move and having 3 kids and husband job isn’t working out well we could use some extra income. We are getting by but deffeintly not ahead. Sick baby long NICU stay and such. 

I’d Ike to sell the DENVER house as we could cash out with about 300k.

We owe 172 k and could list 470k

Our accountant thinks we can get around the capital gains and get the 0% tax bracket due to his low paying job right now. Or even take a year off in 2018.

I don’t see how in the future when he gets back to his regular job we could avoid this and we would be back in that 20% tax bracket for gains.

He wants to make do with our savings and keep it as a rental as he’s sure it’s going to keep going up and we are going to loose this great investment.

I just don’t see it making gains as it has and yes maybe it will go up more but no way near the 140% it already has..

We would invest the money and get retirement stuff settled and possibly use some for a down payment on a family home once we figure out where we want to be..

We have also considered taking a home equity loan on it to make improments on or current vacation home and have some extra savings if needed. For the just in case. 

Any advice?? We just can’t agree

Thanks in advance

Corrie 

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