All Forum Posts by: Marc Cass

Hi y'all, this is my first BP post and is kind of a two-part question (i.e. sell vs rent and selling without RE agent). I'm trying to gauge what the BP community thinks regarding a sell vs rent scenario. I currently own a single family residence in San Diego that I've been renting out for the last two years at $2,150/month (market is $2,300). All in expense (PITI) is $1,600/month. I purchased the property for 305k in 2010 and I believe it's currently valued around 515K. The current tenants are interested in purchasing the property so there may be reduced transactions costs in terms of RE agents. I'm still within the 2 out of 5 years for "primary residence" therefore avoiding cap gains on 250K for singles so I need to make a decision on sell or turn into a long term rental. My concerns are where to put the profit and future tax implications. If I sell, does it make senses to sell by owner since the buyers have already been identified? Any thoughts/insights would be greatly appreciated.