Updated over 5 years ago on . Most recent reply
Sell or keep rental property
Hi Everyone,
I have a rental property in Selma, Ca. I'm torn between selling it and keeping it. I feel like we are at the top of the market and I only owe $60,000 on it, but it will need a new kitchen and bathroom in the next 3 to 5 years. Part of me wants to sell and reinvest outside of California in a newer property. Any thoughts?
Most Popular Reply
Never a good idea to sell performing real estate unless your doing a 1031 Exchange. You will get hit hard for taxes especially if the property has been depreciated to $0.
Do you need a lot of cash for some reason? Are you not getting a good return?