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Would i gain by selling my investment property? |
i have an investment property which i owe $95k on. i bought it for $135k and could sell it for $450k conservatively. if i sell it after i pay the $95k and the capital gains i would have say $300k which i could use to pay off some of my $690k mortgage on the house i live in and own with my partner. if i do this i would save approx $460k in interest over the next 30years (i think). but then i wouldn't have an investment property which would be earning me money forever. A means to an end. in my previous experience, if you sell a property just to think of paying off mortgage or other debts, i think you wouldn't gain. it will just come off as a loss or if you play the price right just break even. think about other options, an investment is very hard to put up and start from scratch again |
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