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Apr 8, 2020
8:29
:58
am
Iman23
Intervention Needed
Sell it, and take the equity and lever up on a more expensive property, which
will get you more depreciation (the tax kind, not the value kind), and build more wealth long term.
This message has been modified
Originally posted on Apr 8, 2020 at 8:29:58am
Message modified by Iman23 on Apr 8, 2020 at 8:49:31am
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Iman23
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Iman23
Joined
Jan 18, 2008
Last login
Apr 30, 2024
Total posts
42,562 (2,715 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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