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Updated 7 days ago on . Most recent reply

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16
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9
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Sell or keep income producing duplex

Posted

Hi, I currently own a duplex in Puyallup WA. We recently moved to TN and have both sides rented. We profit about $1200 a month from both units. My question is, is it wise for me to sell it and profit $150-200k after owning it for 4.5 years and invest where I currently live? Or should I keep tenants in units and once they move out turn it into midterm rentals for traveling nurses, etc? 

The property is in a great location,  close to stores, restaurants, fair grounds, freeway access, and less than a mile from hospital. Each unit is 3bd/1.75ba, single car garage and fully fenced backyard. 

Any advice would be helpful. We want to build our portfolio. Just trying to see what is the best option. 

Thanks, 

Tiffany Palaskas

Should I sell my income-producing duplex in Puyallup, WA, and invest in TN, or keep it and consider converting it to midterm rentals?

If you need the cash and prefer investing locally in TN, selling and using the tax advantage of living in it for 2 out of the last 5 years is a sound option.
Sources: Caleb,Jay,Kwanza

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