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Updated almost 7 years ago,
How should I invest?! I need advice!
Hello BP,
I am looking for advice!. I am about to sell my rental property and will make about $160k. My question is, how would you invest that money? The rental income was $6,500/year. I want something that will make at least that amount, hopefully a lot more!
If you want to know why I am selling the rental, it is because this is the last year I can sell without having to pay taxes on capital gain (lived there 2 years out of the last 5), and because the value of the property has almost doubled since I bought it. It just seems like a great time to make some cash, avoid paying taxes, and invest somewhere else. My hope is that a few years down the road the market will come down a bit and I will have cash to help buy my next deal(s).
Thanks in advance!