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Updated about 7 years ago,

User Stats

76
Posts
42
Votes
Helen Lowery
  • Real Estate Agent
  • Williamsburg, VA
42
Votes |
76
Posts

The long view: selling

Helen Lowery
  • Real Estate Agent
  • Williamsburg, VA
Posted

I currently have 1 rental and am working on a second deal.  My plan is to continue buying and managing the props, with the goal of finding my children's college education and to support aging parents.  However, after reading about capital gains tax and depreciation recapture, I'm unsure how to account for these future expenses in my plan.  Bigger pockets has been great in helping me form strategies for buying, but What about selling?  I understand one option is the 1031 exchange, but my plan is to sell to pay for my kids college education.  Can someone suggest a strategy for this?