Quote:
Originally Posted by JMPRO
I can't sell this house now or I would face huge capital gains taxes, to the tune of about $80,000 so thats not really an option.
JMPRO
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I sold my property carrying the contract myself...written to minimize capital gains. I had a very good contract attorney...20% down, no wraparounds, can't pay me off in any single year, most that can be paid in any single year is 25% of balance due, etc. This minimizes my capital gains liability...and those checks come in like clockwork...
But then, property was easier to unload back when I sold...supply and demand.
(edit) Jeff has a damned good point. Good tenants are like gold. Treat them well!