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On 2 Apr 2006 16:42:02 -0700, jwilder987@yahoo.com wrote:
>I purchased a home for $250,000 100% financed. With all my monthly
>expenses and offset by rent, I'm negative $500/month or $6,000 per
>year. The property shot up in value just after I purchased it and it
>appraised for $310,000. So I've $60,000 in appreciation.
>
>Is there any reason to keep this property? The way I see it I'm eating
>into my potential profit $6,000 per year. Should I sell it? If I wait
>366 days to sell will it be just a flat 15% long term cap gains tax?
Yes, there is always the option to sell. You might also want to
consider taking on a partner who can eat that negative $500 for you in
exchange for a percentage of the equity when you both decide to sell.
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Re: negative cash flow / should i sell?
