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Reply to "If you have rental property, how much do you make every month?"
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[quote=Anonymous]I'd love the advice of these savvy real estate investors. We purchased two condos in Hawaii as investments about 6-7 years ago. Condo A was a foreclosure and purchased for $155K with 20% down. It needed about $16K of work. Last year, profit was $2,500. Current value is $270k. Condo B was purchased for $265K with 30% down. Last year, profit was $2,200 and current value is $320k. We currently live in Washington State with no state income tax. However, the legislature might pass a capital gains tax this month. Should we sell both, just one, or continue owning both? We have a great property manager who handles everything like a pro. [/quote]
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