should I sell my multi use building?
Hi all,
Just found this great site. Wish i had found it years ago. I have a MU 5 unit building that is receiving an unsolicited interest. So thinking i might sell if it's "an offer i can't refuse" i am going to meet them In next week or so.
Some facts;
Owned for13+ years we are retired in our 60's
bought for $323000
Positive CF almost from day one, (now about $3,000+ a month) existing mortgage balance only $68,000 ($900 a month). 3 Retail tenants pay nnn, studio rental about $695. We live in the 2 bedroom unit part-time. I know value is a 1 - low 7 figures. Very Minimal maintenance concerns, but getting tired of Seattle BS & traffic.
So then what do i do; tax wise, how best determine my value, should i carry note for monthly income?? Or just keep it?
Many questions raised since this inquiry.
Any ideas, positive comments greatly appreciated.
JQ