Raw land keep it? Or sell it?
Sooo have a question for you all. I bought property about 7 months ago that's raw land zoned for 4 units. I got an offer on it that would basically give me 148.2% ROI with everything said and done. Now if I do a 1031 exchange my ROI goes up significantly because I'm not paying the short term capital gains.
Also the property is on a 5/5 arm and my plan was to have it paid off within 5 years before my interest rate changes. I’ve taken a big pay cut at work and still think I could have it paid off in 5 years, but if not. Who knows what rates will do and it makes me a little nervous.
Again at the same time it’s been such a great equity builder and investment in such a little time frame it makes me want to hold onto it.
What do you think I should do?