Posted by lo on December 10, 2002 at 19:31:51:
Ask you CPA.
I would keep the first property, take out a 2nd to
buy a couple more properties in appreciating markets
with cash flow. It will reduce your cash flow a little
in the first property and open up new opportunities
in the new properties.
Keep it or sell it??? - Posted by Chris
Posted by Chris on December 10, 2002 at 14:59:44:
I have a property which is positive after expenses of about $900/ month. There is about $170K in equity. Do I sell & buy something with better Cash Flow or keep it because there is nice positive cash flow. The rental market here in Boston has softened and I’m not sure I’d be able to increase rents with improvements. I’ve had it 4 years and lived in one of the units for a while so part of it would be tax free (1/3 of the gain). But I do not qualify for a “1031 like kind exchange” right now due to my earlier occupancy.
Let me know your thoughts.
Chris
Re: Keep it or sell it??? - Posted by svg01(ny)
Posted by svg01(ny) on December 18, 2002 at 16:14:57:
What is your LTV? How much down do you need for the new purchase?