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Updated over 4 years ago,

User Stats

2
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1
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Travis Wood
  • Roanoke, VA
1
Votes |
2
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Rental property keep or sell?

Travis Wood
  • Roanoke, VA
Posted

Hello BP community, 

I have a rental property I previously lived in for 10 years and have rented out the last 2 years. I have about 75,000 in equity in the property and it cashflows about $250 after all expenses (Maint, Cap Ex, PM, Vacancy) . The market is really hot here right now and the houses in the neighboorhood are selling at all time highs and in less than a week. So my question, would you take advantage of the market and not having to pay capital gains tax due to living there 2 out of the last 5 years and sell the rental property? Then use the profit to invest in  a couple of Brrrr's? Or continue to hold since it does have decent cashflow? Thanks in advance for any advice. 

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