Should I Sell My Rental Property or Do a 1031 Exchange? |
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John is trying to decide between selling his rental property and doing a 1031 exchange. Here are a few things to consider.
βAsk me a 30-second question at https://morrisinvest.com/clayton π Ready to buy your first fully done for you rental property? Book a free call with us: https://morrisinvest.com πΊ Watch Next: How to Create Your Personalized Path to Financial Freedom: https://bit.ly/392kAsB π What's Your Freedom Number? Download our free PDF to help you determine how many rental properties you would need to achieve financial freedom: https://morrisinvest.com/freedom π΅ Ready to get your finances in order? Download the FREE 90-Day Financial Empowerment Bootcamp: https://morrisinvest.com/bootcamp π Want to learn more about creating your individualized plan to wealth with a proven system? Join us in Financial Freedom Academy: https://financialfreedomacademy.com π¨π»βπ» Sign Up for My Webinar: https://morrisinvest.com/webinar IRR Video: https://bit.ly/3vucWAZ Cost Segregation Video: https://bit.ly/3aTJsUo 1031 Exchanges: http://bit.ly/2kQPvUb ----------------- How to Decide If You Should Sell an Investment Property Any time you have a tenant turnover, itβs a great time to take a look at whatβs going on with your portfolio. You should consider if itβs a good time to raise rent, and consider the overall performance of the property. Run your numbers and determine if the property is performing well in your portfolio. See my IRR video for more details on calculating returns. If the property is no longer aligned with your goals, it would be smart to sell it and use the profits to buy a property with better returns. A 1031 exchange is a great option if you are able to go that route. See my 1031 exchange guide here: http://bit.ly/2kQPvUb ----------------- DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments. AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion. We recommend them because they are helpful and useful, not because of the small commissions we make if you decide to use their services. Please do not spend any money on these products unless you feel you need them or that they will help you achieve your goals. |