Sell Rental and pay off other rental
I have couple rental properties in Atlanta, GA purchased during end of 2021. One of my rental is giving a good profit (almost little over 100K). Both of them has good cash flow. I was thinking of selling a rental and pay off other rental property.
What will be the implications of capital gains tax? Debating if I should sell?
Any guidance is highly appreciated.
Most Popular Reply
Joe Villeneuve
#5 All Forums Contributor
Pro Member
#5 All Forums Contributor
- Plymouth, MI
No, no and......NOOOOOO! All you're doing is paying more for both properties and giving away all that equity. You tenants are buying you the property now. Why would you tell them to stop, and take over their payments with one big one?