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Real Estate
Reply to "Sell vs rent: could clear $700/month"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I prefer tangible investments over stocks but that's just me[/quote] Me too.[/quote] +2 We've been renting out our DC condo for 3 years now. There have been minor fixes, but they haven't been a big deal. The condo will be paid off in 4 years and I am looking forward to having a steady stream of "passive income." Two things to think about: 1. If you sell the property now, will you have earnings form that sale? If so, you may want to sell in the next few years in order to take advantage of the 250k (single person) or 500k (married) capital gains relief. 2. I love renting out our apartment, but DC "business" tax on the rental income is about 9% -- on top of the federal income tax I pay on it. [/quote]
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