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Updated over 7 years ago on . Most recent reply

User Stats

22
Posts
4
Votes
Ken George
  • Investor
  • New Orleans, LA
4
Votes |
22
Posts

Sell which property?

Ken George
  • Investor
  • New Orleans, LA
Posted

Ok, so it's time do a 1031 exchange in an entirely different market.

The sell choices are a 4 unit residential building in an ok neighborhood.  There has never been a vacancy in the 7 years that I've owned it.  I wouldn't live there with 2 murders (drugs) within 6 blocks in the past 36 months.  My gross is $42,360 and my net is $33,000 cash-on-cash.  It is turnkey and would realistically sell for $435,000 - $450,000.

Building #2 is a 5 unit residential building grossing $70,620 and my cash-on-cash net is $60,000.  Neighborhood is excellent.  There has never been a vacancy during the 14 years I've owned it.  It is turnkey and given the location it would realistically sell for $950,000 - $1m.

What's a landlord to do?  Thanks for your experienced advice in advance.

Ken

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