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Updated over 1 year ago,

User Stats

5
Posts
7
Votes
Allan George
  • New to Real Estate
  • Houston, TX
7
Votes |
5
Posts

Continue to rent vs sell

Allan George
  • New to Real Estate
  • Houston, TX
Posted

Have a former multi-family house-hack in NJ that I converted to a full rental 2 years ago. I have 1 year left to qualify for the primary residence capital gains tax exemption.

Property has a 30yr mortgage @3.6% interest rate and currently cash flows ~$300a month after all expenses and splitting with my partner (with some room to get up to $350/400).

If we choose to sell, profit will be ~$100k after expenses and split with my partner. Funds would be used to pay down some debt and possibly purchase another multi-family locally in TX (although tough right now).

Do you think I should sell in the near future to capitalize on the tax exemption or continue to hold on to the property for cash flow?

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