All Forum Posts by: Andrew Gorgey

Thanks, Matthew.  I've decided to hold the assets and continue the cash flow, but thanks for taking the time to respond and offer an alternative.  - Drew

Thanks for the response, Jake.  Yes, I can pull out equity, buy more properties, and keep building.  Or do a 1031 exchange and build that way.  Both are viable options.  Maybe my question is for those who've taken profits and gotten out - how do you know when to get out? To take profits and be done?   If it's as simple as "whenever you feel it's right for you," I'd appreciate hearing that, too.  

I bought two units in downtown Colorado Springs in 2001 for $183,000.  Units are free and clear and together generate $2,800/mo gross.  Realtor approached me to list for $499,000.  Net profits on sale after capital gains and real estate commission is about $360,000 to $390,000.  I'd appreciate comments on whether to continue taking cash flow vs. selling and taking profits.