I own 3 properties and I’m having some income/job stability issues. I have substantial equity in 1 property and I’m thinking about selling it to pay off debt and keep some cash so I can stay afloat. Should I take the risk and sell it and pay the capital gains tax or just keep the property and push through?

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Without knowing your financial balance hard to tell, but I would consider HELOC or personal line of credit to hold on to the property.

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My thinking is I be able to walk away with approximately 60-70k after all taxes and fees. And I can use that be buy a better performing asset next summer or fall. I’ll still have 2 properties in my portfolio

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If you sell it now and don’t close until 2024 sometime, then you have until April 15th 2025 to actually pay the capital gains. If you have short term cash needs, selling now and kicking the capital gains concern down the road for 15 or so months isn’t a terrible idea, especially with the economic projection for that period of time.

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Sell. The money will give you peace of mind that additional debt can’t. You can always get back in once you get job and income stable again.

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Are the other properties cash flowing?

Also (I'm not a tax expert by any means) but I think you only pay Short term cap gains if you've owned less than a year (please double check). If you've had long term hold then it would be taxed at longterm cap gains which is fairly low (as far as taxes go) at 15%

If it'd breaking even then it isn't doing a great job as an investment property. I'd sell it

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Is it cashflowing? If yes, do not sell. You are not paying the debts, the tenants are.

I’m breaking even. I don’t have the any more capital to put in the property to increase the rent unfortunately. I’ve spent so much on repairs and maintenance

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