All Forum Posts by: Leticia S. Tucker

I have a home in a desirable neighborhood. Currently have mortgage at 2.75. Could leave and rent out make $900 to $1,000/month.

OR... I could sell and net $200,000 to $300,000, no capital gains.

I am hoping to retire in 10 years.

I could move to one of my two rental homes (making less than $500 on each). I can't sell those because I got them 6 months ago using a 1031.

What would you do? And why?

How would you expect your next investment to double?

Also, I have a second mortgage that will be paid of in 18 months, and my rent needs to be raised. At that point, my cash flow would be $1,500/month or $18,000/year.

If I were to sell it now and clear $400,000, what kind of investment scenarios would make it worthwhile to sell? I am thinking of apartments out of state.

I have access to a good trustworthy contractor and his network of laborers. 

I also have a great real estate agent and broker, but their experience is with mostly home buyers.

@Alexander Szikla Thank you! I will look at those options. I need to get on these forums more often. I knew had to invest if I sold, but I had not heard of the 1031 Exchange. 

@Alexander Szikla Thank you for replying. Here are the numbers: I owe $200,000, I have an offer of $600,000. After expenses, I make about $2,000 per month (I am including the $1,500 mortgage as part of the profit). I don't know the exact number, but the vacancy rate is very low. In my area, there is nothing available to purchase and make a profit. The prices are sky-high, and inventory quite low. I would have to wait for a more favorable market or look elsewhere. 

@Randall Alan Thank you for the information! 

New at this game. How do I gauge whether or not I should sell my property? What should I take into consideration?

I have a duplex that I have owned since 2010 and is rarely vacant. At the moment it is under rented. Waiting for COVID to calm down to raise the rent. The property could be upgraded to make it more high-end, but it currently does not need repairs. And it is in a desirable neighborhood. I have an offer that seems fair. I could make enough money to buy a house outright, or reinvest in several properties.

I would appreciate any words of wisdom.