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sold RE
Old 08-14-2011, 07:32 PM   #21
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sold RE

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Originally Posted by arebelspy View Post
Can you elaborate on this? I haven't seen many real estate exit strategies other than "probate" or "1031...probate"

Did you just decide to sell and take the capital gains hit? Or what?
Yes we paid Capital Gains.

We took the money we made from the sale and put it in a Money Market.
This enabled us to put the max. in the 401k and 457 as we would move that
amount each month from the MM to our checking.
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Old 08-14-2011, 10:41 PM   #22
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Quote:
Originally Posted by SJ1_

Yes we paid Capital Gains.

We took the money we made from the sale and put it in a Money Market.
This enabled us to put the max. in the 401k and 457 as we would move that
amount each month from the MM to our checking.
What made you decide to sell?
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why sell
Old 08-15-2011, 10:16 AM   #23
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why sell

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Originally Posted by arebelspy View Post
What made you decide to sell?
My initial goal was to live off of the rentals and retire. The houses kept going up in value but the rents stayed the same. Everyone was buying so there were less people looking to rent. Expenses kept going up. So we just started selling them when the tenants left. We also started investing in the 2nd home market which at the time was a lot more lucrative. We had a number of lake lots that we were buying and selling. Plus when tenants left we pretty much did all of the work which seemed to keep happing in the summer when we would rather be at the lake. The third reason is I always felt if I could make 100k on a house I would sell it.
Now the opposite is happing. No one is buying which is pushing up rents while the price of homes is way down. So the house that peaked at $160,000 that I now retailing for $90,000 which means you can probably find it for less than that, and you can get more rent for it at 90k than you could at 160k!
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