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Updated over 4 years ago,

User Stats

91
Posts
23
Votes
Mark Leclair
  • Rental Property Investor
23
Votes |
91
Posts

Should i sell or whoesale property?

Mark Leclair
  • Rental Property Investor
Posted

i have a property i am deciding wholesaling or keeping myself. It is 3 hours from me but the pros seem to outweigh the cons on this property. if i buy it i can use some cash/some 401k/some credit card ( would get a new one 0% interest for a year and only borrow 33% max) and use the refi or sale when i sell in a year to pay all of that back and should net me around 60k profit total. Downside if something breaks obv i have to fix it, will try to increase the rent as they are way under market value( current rent 1400, market rent min 1600), covid may effect the renters paying or being vacant but i feel like those are small issues when considering the upside. Also if i have this for 1 year exact does that null and void capital gains? I mean the goal would be to 1031 exchange this into something else but i always looks at it from multiple exits.

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