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  • June 8, 2007 at 12:14 PM #9252
    NotCranky
    Participant

    If you sold your personal or investment properties after seeing some substaintial appreciation and are now on the side lines why did you do it. What does it do for you and what do you hope to get out the decision to do so?

    Those who did not actually do it but can participate on a “theoretical” Basis please chime in. Same for those who did not do it but could have.

    Thanks,
    Rustico

    June 8, 2007 at 12:38 PM #57948
    HereWeGo
    Participant

    Any time you sell and hold cash, you expect a period, either long or short, of depreciation in the sold asset. Then the idea is to either wait for the depreciation phase to end, or to find another type of asset in which to invest.

    June 8, 2007 at 12:38 PM #57974
    HereWeGo
    Participant

    Any time you sell and hold cash, you expect a period, either long or short, of depreciation in the sold asset. Then the idea is to either wait for the depreciation phase to end, or to find another type of asset in which to invest.

    June 8, 2007 at 12:55 PM #57950
    Bugs
    Participant

    I’m in the position that it would cost more for me to rent than to continue with my mortgage, and I don’t want to mess around with a higher property tax bracket or capital gains that would have resulted from an exiting-loitering-rentering cycle.

    June 8, 2007 at 12:55 PM #57976
    Bugs
    Participant

    I’m in the position that it would cost more for me to rent than to continue with my mortgage, and I don’t want to mess around with a higher property tax bracket or capital gains that would have resulted from an exiting-loitering-rentering cycle.

    June 8, 2007 at 12:58 PM #57952
    SD Realtor
    Participant

    Rus I sold one of my rentals in Mission Valley back in March. I sold it at a steep discount in order to raise more cash for a dp for a primary residence. I pocketed a nice profit on it but more important I saw more depreciation in store for it. I sold it to my tenant.

    SD Realtor

    June 8, 2007 at 12:58 PM #57979
    SD Realtor
    Participant

    Rus I sold one of my rentals in Mission Valley back in March. I sold it at a steep discount in order to raise more cash for a dp for a primary residence. I pocketed a nice profit on it but more important I saw more depreciation in store for it. I sold it to my tenant.

    SD Realtor

    June 8, 2007 at 12:59 PM #57944
    what_a_disasta
    Participant

    We did it because we didnt like our neighborhood in SD and didnt fancy spending 10 years trapped in such a parochial place. If our equity was vaporized we would have been forced to stay for the best years of our lives.

    Since selling we have been renting a nicer place in a better location for about 40% less than we were paying before. We have saved up a lot of money and will buy somewhere better one day when the time feels right (less risky).

    So we missed and potential upside if it turns around, but we have an increased quality of life and much less risk.

    If you can afford to get out for a profit, I would do it in a heartbeat. If it will ruin you to sell you might as well take your chances and stay put (if you can afford to).

    June 8, 2007 at 12:59 PM #57971
    what_a_disasta
    Participant

    We did it because we didnt like our neighborhood in SD and didnt fancy spending 10 years trapped in such a parochial place. If our equity was vaporized we would have been forced to stay for the best years of our lives.

    Since selling we have been renting a nicer place in a better location for about 40% less than we were paying before. We have saved up a lot of money and will buy somewhere better one day when the time feels right (less risky).

    So we missed and potential upside if it turns around, but we have an increased quality of life and much less risk.

    If you can afford to get out for a profit, I would do it in a heartbeat. If it will ruin you to sell you might as well take your chances and stay put (if you can afford to).

    June 8, 2007 at 1:02 PM #57956
    recordsclerk
    Participant

    I did not sell my investment property because it is cash-positive rental and I’m in it for the long term.
    I didn’t sell my primary residence because of cost to sell and buy, plus monthly payment cheaper then renting. Able to save more money for future move-up home.

    June 8, 2007 at 1:02 PM #57982
    recordsclerk
    Participant

    I did not sell my investment property because it is cash-positive rental and I’m in it for the long term.
    I didn’t sell my primary residence because of cost to sell and buy, plus monthly payment cheaper then renting. Able to save more money for future move-up home.

    June 8, 2007 at 1:15 PM #57960
    NotCranky
    Participant

    Disaster,
    I definitely used my bubble money to get to a better neighborhood/situation in San Diego County(I have a strnger affinity for the place evidently) Since I added sweat equity and legal and developement advantages to the property I could double my bubble money and improve cash flow by around 2k month by liquidating,saving and renting instead of moving into the house I built. This opportunity is likely diminishing, and the house is not quite finished. Been hashing the idea out. There are other aspects that could provide support to my property value especially, next up cycle if we ever have one (That might be approximately when we are ready to retire 15-20 years from now). Neighborhood wealth factor is shooting through the roof as the area is going from rural to something akin to modest 10-20 acre estate properties.
    We will probably stay. I may just move in, look at it next spring and if it’s too late it will be a moot point.

    This is my motivation for the thread but I hope others like you will discuss what they have done.
    Best wishes

    June 8, 2007 at 1:15 PM #57987
    NotCranky
    Participant

    Disaster,
    I definitely used my bubble money to get to a better neighborhood/situation in San Diego County(I have a strnger affinity for the place evidently) Since I added sweat equity and legal and developement advantages to the property I could double my bubble money and improve cash flow by around 2k month by liquidating,saving and renting instead of moving into the house I built. This opportunity is likely diminishing, and the house is not quite finished. Been hashing the idea out. There are other aspects that could provide support to my property value especially, next up cycle if we ever have one (That might be approximately when we are ready to retire 15-20 years from now). Neighborhood wealth factor is shooting through the roof as the area is going from rural to something akin to modest 10-20 acre estate properties.
    We will probably stay. I may just move in, look at it next spring and if it’s too late it will be a moot point.

    This is my motivation for the thread but I hope others like you will discuss what they have done.
    Best wishes

    June 8, 2007 at 1:27 PM #57970
    bob2007
    Participant

    If someone sold in 2005 for a great profit (say 300k) after 2+ years of ownership, are there any tax issues with waiting? In other words, would they need to buy again in a certain amount of time to avoid the 15% + 9% state tax on the profit?

    June 8, 2007 at 1:27 PM #57997
    bob2007
    Participant

    If someone sold in 2005 for a great profit (say 300k) after 2+ years of ownership, are there any tax issues with waiting? In other words, would they need to buy again in a certain amount of time to avoid the 15% + 9% state tax on the profit?

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