Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 6 years ago,
Advice! Sell or rent? Tax burden?
Im looking for advice on what to do?
I bought a condo for 80k in Dec.2018.
My original plan was to rent it out. (after calculations ill cash flow 500.00 monthly)
Ive been working on the property and i had a visitor the other day.
It was a R.E. agent asking to see the unit..i said check it out!
Long story short she came to me with an offer for 155,000.
I will have 10/12k in the renovation. (90k total)
Should i sell within 1 year and take the check or cash flow 500 per month?
How much will i expect to pay in taxes?
Will waiting until after 1 year significantly reduce the tax burden?
Thanks in advance.