Finance Questions? Ask a Financial Expert for Answers ASAP
You WOULD be able to exclude what ever gain you eventually get on the primary residence home (although given the market today, you may to wait a while to maximize that)....and the gain on the other looks like it may only be 15K or so (so no really SIGNIFICANT tax benefits here) ... Given that the rental market is stronger than the market for selling, the purely financially maximized thing to do is get the rent out of the houses, let things firm up more (I think that now that the excess inventory is out of the housing market, might not happen tomorrow, but over the next several years you'll see some real appreciation there) ... And when you look at the net income (rents from both less the mortgage on the one AND other rental expenses) ... along with selling for a good gain later, the Net Present Value on that, along with more certainty, out weighs selling now
I still don't see you coming into the chat ... I'll move us to the "Question and Answer" mode .. (We can still continue the dialogue there)
Let me know ... and we can dig in further
Thank you for the answer. As with any decision that is seemingly difficult, there is always pros and cons, therefore, the difficulty in making the decision. Your input is helpful.
I am having internet issues, that is why I cannot be on chat right now. I would like to talk a bit more, but until this internet issue is resolved, it will have to wait a day or so. Can I just contact you in the next few days for some more input? Thank you again.