Sell or hold in California?
I have a property in Stockton, CA that is worth 420k and I owe 260k. It has really solid family renting who do not want to purchase ever, so they will never leave. I can sell this year and not get hit with capital gains. It currently cash flows $600/Mo.
-I’m not sure if I should stick with the solid renters or take the $$ and invest in other markets out of state?
I own 2 other properties and they’re all in this city close to each other.
What is the best move?
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@Brandon Leffler, Crossroads for you. No bad choices. Just shades of different. My basic rule of thumb of life is "if it's not a world beater then always always take the first tax free off ramp". This goes triple in CA. If you don't keep it out of their hands today. It will end up in theirs forever.
- Dave Foster
