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Updated about 7 years ago, 11/20/2017

User Stats

11
Posts
6
Votes
Patrick Murphy
  • Residential Real Estate Broker
  • Phoenix, AZ
6
Votes |
11
Posts

Exit Strategy for rental properties

Patrick Murphy
  • Residential Real Estate Broker
  • Phoenix, AZ
Posted

During the crash I was fortunate to be able to purchase 9 rental properties between 2008 and 2012 at incredible low prices. I am now 60+ years old and replacing toilets, climbing on ladders is getting old. I am trying to figure out how to exit this investment with limited tax liabilities, each property has increased in value by 500% since I purchased them. I have steady and fantastic renters and they have paid my initial investment 2 times over. All homes are owned free and clear. My question is this: Should I bundle them all together to get my best price for income property? or should I sell them one at a time as SFH's and spread the tax liability out over several years? or should I work with the tenants and do land contracts to sell them the properties at a higher interest rate and higher asking price because I am sure none of them have enough for a decent down payment and also I am concerned that interest rates will increase and I will be stuck holding a low interest loan and my money could go somewhere else, also I do not want them back. I am a licensed real estate agent here in AZ but this is just a question to this community. Any experience with this would be greatly appreciated.

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