Had been holding off on selling multiple properties until recently. The value of just the land alone in some areas is amazing. With increased development and skyrocketing taxes, it’s an easy decision to sell and move on.
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Thankful for the current real estate trend
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Originally posted by Danno View PostSeems like a wash for someone just wanting to upgrade homes huh? If I make a large amount selling my home won't I just pay out the roof for my next home and lose all the profits anyway?
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Originally posted by Danno View PostSeems like a wash for someone just wanting to upgrade homes huh? If I make a large amount selling my home won't I just pay out the roof for my next home and lose all the profits anyway?
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Originally posted by RMW View PostGood luck on the sale! You going to take the cash and run or buy another property to avoid the taxes?
Something similar happened to a friend. He had planned on holding onto a nice piece of property to retire on but then development moved in and multi million dollar homes started being built up close. And then a substantial number of cookie cutter houses went up on the other borders. His taxes climbed so high that he knew it wasn’t worth owning anymore. He downsized and sold off most everything.
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Originally posted by Danno View PostSeems like a wash for someone just wanting to upgrade homes huh? If I make a large amount selling my home won't I just pay out the roof for my next home and lose all the profits anyway?
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Originally posted by DFWPI View PostDepends. But, if you were driving a Ford Pinto and could upgrade to a Corvette for the same price, would you?
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You sell high in this market you also pay high in this market.
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I agree if you are wanting to sell off rental investments, it is a good time to do it. I bought at the start of this craziness in market values
I’m finding that long term rentals are not too bad given the current market as there is a surplus of renters because they are unable to compete in the current market trend on home values
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