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Updated about 11 years ago,
Sell my rental or hold!
Hi all,
I know this will get a lot of "it depends" based on my strategy, but I'd like other's opinions.
I initially intended to purchase a buy and hold rental. It currently cash flows, although not 2% of the purchase price. I rehabbed most of the wear and tear items to as durable as I could afford.
Due to a market correction, and NOT a true appreciation. The home has jumped in value 100%. In the past year. I'm talking from 100k to 210k. My buying agent whom I plan to use as a selling agent believes it could be as high as 250k.
What I'd like to ask is, if it hits 350k in the next two years (hypothetically) would you other investors in the area sell said home? I've never lived nor plan to live in this home so I most definitely will be affected by capital gains.