Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply

User Stats

1
Posts
0
Votes
Ginger H.
  • Investor
  • Sanford, FL
0
Votes |
1
Posts

Need help with the MATH! Hold or sell?

Ginger H.
  • Investor
  • Sanford, FL
Posted

Hello- I'd like some help with the math to see if I should sell soon or hold onto a rental property.   I used 1033 exchange funds to buy a few single family homes in 2015- the most expensive was the property that I am thinking of selling.  We paid $164K (foreclosure) and did some renovation.   I have about $220K in it and could sell it for around $320K- so around $80K profit.  Then I'd have pay taxes -  from my understanding- Id have to pay taxes on the gain from the 1033 exchange.  I never sell - always hold and rent so I am new at this and also don't fully understand the 1033 exchange.  

Right now I rent the property for $2K a month.  If I sell, I could take the $$ and buy some more property to renovate or keep it and hope that it appreciates more.  I have a total of 7 properties (11 rentals) and this is my least profitable.  It is a very good time to sell in Florida- though I guess it could still go up!  It is also very hard to find a good deal anymore.  I owe about $400K total for all properties at around 3.25%.  Thanks in advance for recommendations and for showing the math.  

Loading replies...