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All Forum Posts by: Kyle Thomas

Kyle Thomas has started 1 posts and replied 1 times.

My wife and I are trying to determine if we want to sell our property and capture all the capital gains or hold the property and possibly incur some costly repairs.

We turned our previous home into a rental property and have a reliable tenant who will have stayed in the property for 3 years at the end of may. The property has had good cashflow considering we've had a few large repairs each year, but there are a few that will most likely require repairs within the next few years.

The repairs would be: A/C unit, duct work, roof, railroad tie retaining wall, sprinkler system.

If we sold before the end of may we would capture about $340k+ in our pocket tax free where we could put it in a CD at 5.5% for a year and pretty much get the same amount as we would from our rental.

I know we could hold and roll it into a 1030 exchange, but the repairs will most likely eat into or profits.

Any suggestions are welcome! Thanks!