Starting Out
Market News & Data
General Info
Real Estate Strategies
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/hospitable-deef083b895516ce26951b0ca48cf8f170861d742d4a4cb6cf5d19396b5eaac6.png)
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_trust-2bcce80d03411a9e99a3cbcf4201c034562e18a3fc6eecd3fd22ecd5350c3aa5.avif)
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_1031_exchange-96bbcda3f8ad2d724c0ac759709c7e295979badd52e428240d6eaad5c8eff385.avif)
Real Estate Classifieds
Reviews & Feedback
Updated over 3 years ago on . Most recent reply
![James Dillard's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2216592/1628180905-avatar-jamesd807.jpg?twic=v1/output=image/crop=2448x2448@538x0/cover=128x128&v=2)
Rental 2 of 5 years lived in, sell before 5th or hold on?
I have a property that I lived in almost 3 years ago before I started renting it out. If I don't sell before the end of the year I will have to pay capital gains taxes. I bought the property for 165000 and I currently owe around 120k on a 30-year loan. I could sell today for 300000 - 315000. My monthly cost is 1250.00 and it is currently rented at 1900. The rent is under market and I should be getting closer to 2300 a month. I can't raise the rent due to the California eviction moratorium/ rent freeze but that's a story for a different post. My tenants are great and always pay on time and the unit is in excellent condition. I also pay a property manager 10% because my 9-5 requires that I work outside of the U.S. for extended periods of time. So after everything, the property brings in around 460 a month which is nice.
This is my first venture into real estate investing and my future goal is to have more properties. I am currently considering purchasing another residential rental property. I have a lot of options but I'm unsure of the Best path forward. I could sell and possibly buy a few more properties. I could refinance at a higher interest rate for a down payment on a second rental. I could refinance my primary residence at a lower rate and go that route.
I really don't want to sell, but I think that may stem from an emotional attachment. I'm curious to see what others would do if they were in my situation.