All Forum Posts by: Account Closed

 @David M.

Yes, this is our primary residence from last 5 years. 

I get the capital gain tax advantage of selling now but we can do 1031 exchange even if I decide to sell in 5-10 years. With rent equal to mortgage payment, this house will be paid off in 12 years with higher appreciation and possible cash flow after 2-3 years from now. 

I acknowledge that this question has surfaced multiple times on this forum, but given the current interest rates, there might be some variations in the situation.

Our intention is to acquire a new property for an upgrade. However, I am contemplating whether to retain our current 5-bedroom single-family house or to sell it. The existing house is under a 2.2% 15-year loan, with a monthly payment of 3K, inclusive of HOA, insurance, etc. Situated in Cary, NC, a highly sought-after real estate area, similar houses command rents in the 3K range. If sold, our house could fetch between 850-900K, resulting in a $450-500K equity. This equity could generate 20-25K in a high-yield savings account annually, but the real estate market's potential appreciation exceeds that amount. Opting to rent the house presents the advantage of benefiting from appreciation, yet it also entails various challenges.

To all the experts here, let me know your opinion in this situation. thanks in advance.

One of my friend is looking for a recommendation for an architect in Raleigh. He has a land and trying to see what's possible to build there-Single Family, Townhome or multi family. Area is zoned for R-4 right now. Are there any recommendation?