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Real Estate
Reply to "Knowing when to cut your losses"
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[quote=Anonymous]I would keep it for an alternate income stream. As you are breaking even,you don't even have to do anything. In 15 years or whenever that time is for you, that's a tax advantaged diversified source of income. Once you focus on the income side, the market value side will mean less to you. FWIW I have two condos that I rent out and anticipate brining in about 3k in today's money in eight years when mortage is paid off. As my main house will be paid off then as well, its almost enough to retire on. If you want to keep it solely for capital appreciation, then it might not be worth it to you as there are too many "ifs." However, if you want to keep it in order for it to provide an income stream for you in say 15 years, then it may make sense to keep it. You can do the math and figure out when it will be. The actual market value of the condo is secondary at that point. [/quote]
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