Ballhawker
Dryer sheet aficionado
- Joined
- Oct 31, 2021
- Messages
- 32
I'm 58 and approaching early retirement while my DW is my DW just turned 59 and is happy working at her state job with no interest in retirement at this point.
We own a rental house free and clear and have used up all depreciation so minimal tax benefits. Bought the house in 2006 for $360k and Zillow now says it's worth $909k. Rent is currently $2800 per month.
I am considering three options - 1. sell it, take gains and the tax hit, and invest in REIT or good dividend paying ETFs, 2. 1031 exchange into multiple higher cash flow LCOL rentals out of state and hire a management company, or 3. Just keep it for a few more years even though the ROI isn't that great.
The house is really showing it's age. Fairly frequent trips to fix this or that or install a new appliance. It will need new windows and a kitchen remodel fairly soon.
Any ideas or recommendations welcome! Thanks.
We own a rental house free and clear and have used up all depreciation so minimal tax benefits. Bought the house in 2006 for $360k and Zillow now says it's worth $909k. Rent is currently $2800 per month.
I am considering three options - 1. sell it, take gains and the tax hit, and invest in REIT or good dividend paying ETFs, 2. 1031 exchange into multiple higher cash flow LCOL rentals out of state and hire a management company, or 3. Just keep it for a few more years even though the ROI isn't that great.
The house is really showing it's age. Fairly frequent trips to fix this or that or install a new appliance. It will need new windows and a kitchen remodel fairly soon.
Any ideas or recommendations welcome! Thanks.