Hi
We brought our 1st rental as a long term investment about 18 months ago. It is a 3bed house in a good area of Napier, and we paid $125000 for it. With the way prices have gone it is now valued at $250000 and our accountant has said to us to sell and take the gain.
We have just let it to a couple who we know and they intend to stay for the long haul. ( we are getting $230 a week). Our problem is that to replace it, you can not find any decent rentals now with the right incomes.
Question. Do we sell and take the gains or sit on it for the long haul and get more gains.
Gannets
We brought our 1st rental as a long term investment about 18 months ago. It is a 3bed house in a good area of Napier, and we paid $125000 for it. With the way prices have gone it is now valued at $250000 and our accountant has said to us to sell and take the gain.
We have just let it to a couple who we know and they intend to stay for the long haul. ( we are getting $230 a week). Our problem is that to replace it, you can not find any decent rentals now with the right incomes.
Question. Do we sell and take the gains or sit on it for the long haul and get more gains.
Gannets
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