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Happy Be Kind to Lawyers Day!
Hello FAANG Fishes
Welcome to the bowl.
Will any of the partners vote against the split.
Who's hyped for impact day?
Anyone was being to portillo. Samana DR
Highest paying city for realtors?
Happy Be Kind to Lawyers Day!
Hello FAANG Fishes
Welcome to the bowl.
Will any of the partners vote against the split.
Who's hyped for impact day?
Anyone was being to portillo. Samana DR
1031
Where is the property? How old it is? What type - condo / single family etc? How much monthly fixed cost excluding mortgage? What are rental $ per week and how many weeks rented in a year in a aerate? What will u do with the cash after sale? Let us know and we can provide some feedback. Also, can u afford it if it is not rented for let’s says a few months?
It is a tricky situation. U have great cash flow from the property, with this kind of return u can actually payoff this house in few years, and then have a great source passive income for long term. But it’s a good idea to sell it as well because the market is at all time high and u can simply your life by selling it, payoff loan and then dca in stock. U r young so think long term. If I were u, I would sell and invest cash / payoff loan, and try to buy something like this again in few years.
Sell - great IRR
Sell
1031 roll it into a multi family unit.
Mentor
Personally I’d keep with good cash flow. I bought my beach property in 2019 and it’s already appreciated $550k. I’ll net $100k this year and plan to keep it. We use it a couple weeks a year and the cash flow is great.
Mentor
C1 I can pretend that I’m real estate savvy but honestly I think there’s a bit of luck with timing. My first goal was finding a beachfront home my family and I would enjoy and then I researched what rentals were getting and felt confident I could cover the costs and make maybe $20k. Turned out it was more popular than expected plus Covid drove a desire for beachfront rentals and property.