Updated about 7 years ago on . Most recent reply
Selling in Long Beach, MS
I’m looking to sell a rental I have in Long Beach, MS. I currently have a tenant in place paying $1,100 a month. My objective is to reinvest to a more expensive property in Texas utilizing a 1031 exchange. My renter is still under lease until March 2019 which is not a great time to list.
I purchased this new construction home about 8 years ago it under a “go zone” program which provided significantly can’t tax benefits for building new homes and renting them in areas effected by hurricane Katrina.
How easy is it to sell a home with a tenant in place? Is it desirable for buyers to already have a tenant in place? Or, should I wait until the lease is up and then list it? Also curious to know what tax implications there are when selling a go zone property.
Regards,
Andy