To Sell Or Not To Sell
I bought a property few months ago at a discount(60% of FMV). The house is in decent condition and the rents cover my mortgage. Recently I got an offer for the full market value and I stand to make a cool 35K from the deal.
But I have been battling this question of whether I should sell or not. Should I sell now for short term gratification or should I keep it and sell after few years and make a larger profit. I have decent capital at hand for other deals and hence I am not dependent on selling this property for making future deals. But the thought of a quick 35K is luring me into selling it fast and to move on..
I wonder how the market will be in a few years and if it is worth to wait 2-3 years to make a bigger profit.
But then who knows how the market will be in a few years.
I am just thinking out load and I hope this appropriate to this forum. Any words of Wisdom from anybody will help. :-?
The only reason I'd suggest waiting is to limit your cap gains tax.
I'm a big believer in being willing to sell when the right offer comes along. Having enough money to go out and repeat this process is the key; since you stated that you don't really need the money, perhaps a LO would get you past the 1 year mark and give you a chance to enjoy future gains.
congratulations!
steve
I would probably prefer to take the 35K and move on to bigger and better deals. But if you don't need the 35k and already have money to work with, it's never a bad idea...