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Apr 8, 2020
8:16
:42
am
Misteak
Intervention Needed
POLL: If you have had a rental property for enough years, which would you do?
Keep in mind, you don’t have very much 401k and you are in your middle earning years.
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Misteak
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CougarFella
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Misteak
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Sep 2, 2017
Last login
Sep 28, 2021
Total posts
16,966 (219 FO)
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Messages
Author
Time
POLL: If you have had a rental property for enough years, which would you do?
Misteak
4/8/20 8:16am
Are you expecting a real estate crash?
Harbinger
4/8/20 8:20am
No. I just wanted some thoughts as to how to make the most of things.
Misteak
4/8/20 8:53am
Sell it, and take the equity and lever up on a more expensive property, which
Iman23
4/8/20 8:29am
This was another thought I had, should have included it in the poll.
Misteak
4/8/20 8:51am
Or keep it, but borrow against it to pay the 25% down on another property
DC12
4/8/20 8:53am
This is even better if you can, can can be tough if you don't have enough equity
Iman23
4/8/20 8:58am
Are you sure it’s 25% for an income property? I thought it was 20%
Misteak
4/8/20 9:07am
It’s 20%, but you get a better rate at 25%
DC12
4/8/20 9:14am
Some lenders are offering 15% down in a 30/15 loan
TheRealU
4/8/20 9:49am
If you sell, use 1031 or you'll use a lot of gain for income taxes.
grandpacoug
4/8/20 9:05am
Careful with tax consequences if you sell. Could be a big hit.
JJCoug
4/8/20 8:42am
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