What should we do with our investment property?

[jennifer_bloom]

Sell it for 855,0000

Rent it out at 1.7x the previous rental

[Static_In_The_Attic]

With the way things are right now I would sell it & cash out & you’ll make a killing. In my neighborhood houses are selling & my neighbors are walking away with $100,000 profit & the funny thing is that my development isn’t even ten years old.

[alance99]

Rent it out

[horsenrhinounicorn]

It is dependent on the amount that is owed. It costs about 4.5% to 6% of the price for the sale. 2.5% for the seller and 2.5% for the listing agent. There will be taxes on the gains from the original purchase price to the current price. Some places start at 25% to 30% gains tax, others are higher. You would have to look at what investment options are out there to earn income from. It is not a good time to purchase investment properties, it is a good time to sell in most major cities. Look into the options that would generate cashflow and the amount of involvement and manpower required to be successful. The other option is to use the equity from the property to finance a low interest rate on another investment, only do this if the interest rate is locked in and at a low percentage. The amount of the equity loan would need to be high enough to be able to cover setbacks say if renters don’t pay, repairs, etc.

[exitseven]

I would sell it because the bottom will fall out of the housing market soon.

[EmyOnFire]

Rent it.