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Updated over 7 years ago,
Rentals: sell now or keep renting
Here is my situation. I am really tired of tenants that feel entitled and stories they tell when the check bounces. Property management is not something I can live wifh, I manage my own properties.
I feel like I am managing 15 households as they call or text for every little thing.
I have couple of rentals one is vacant and other one will be vacant in a month. Thinking of selling both. If I do 1031 exchange where do I buy the replacement properties? I am not new to out of state investing. I have invested in properties that I have never seen.
Bottom line I am really tired of managing rentals at the same time I don't think property management is the solution as that will be another headache as I have to manage them.
I would like to invest in land and I am scared to do that as I will be selling income producing properties to purchase speculation/no income.
Does it make sense to pay capital gains and on top of commissions etc.. is there any calculator on how much are the costs when we sell the property?
Thank you so much