08/06/2021
Had a great time yesterday! Visited with a long-time client to discuss his "post-L.A chapter". And an in-depth discussion since he is fortunate enough to have many options!
* Sell the LA house. Pay off the remaining loan, enjoy the big lump of cash from the increased value (which also means some Capital Gains tax), and ride into the sunset.
OR...
* Rent the LA house. Since the value has increased, so has the rent he can expect. Enjoy the depreciation and tenant-paid debt service, and $4000/month positive cash flow which might easily fund a whole lifestyle in a cheaper market.
OR...
* Both! Rent for three years for the depreciation and cash flow, and still sell while you can enjoy the $250K/$500K upside tax-free. A great deal more of upside could avoid (well, postpone!) Capital Gains tax with a 1031 exchange.
What would you like your "post-L.A. chapter" look like? And how can Housing Solutions Realty help you in that direction? Call today -- let's grab coffee!