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I have a rental property worth $140k earning estimated $1000

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a month. I still pay...
I have a rental property worth $140k earning estimated $1000 a month. I still pay for repairs, property taxes and management fees. Would it be smart for me to sell it and invest the money in a money market account instead? Or should I keep it? What is better financially and tax wise?
Submitted: 7 months ago.Category: Real Estate Law
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Answered in 14 minutes by:
6/15/2017
Real Estate Lawyer: Michael Gonzalez, Lawyer replied 7 months ago
Michael Gonzalez
Category: Real Estate Law
Satisfied Customers: 547
Experience: Managing Member at Perez-Mena & Gonzalez, LLC
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Hello and welcome to JustAnswer. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. This answer is given based on the facts provided above. Contact a local attorney to further discuss these issues. By continuing, you confirm that you understand and agree to these terms.

Customer,

This is not technically a legal question and more of a business decision. What I can say is that money market accounts have a steady but very small return (usually around 1%). However, the MM accounts do offer much more liquidity than real property. (These accounts should not be confused with Money Market mutual funds which are conservative investments that contain short-term securities such as bonds. )

To answer your question, you need to determine your initial cost investment in the rental property to see what kind of a rate of return you are currently receiving.

Again, this is not technically a legal question but in general, real estate tends to appreciate much more over time than MM account.

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Customer reply replied 7 months ago
Ok
Real Estate Lawyer: Michael Gonzalez, Lawyer replied 7 months ago
It was a pleasure assisting you today, and I would appreciate if you would rate my service, so I will receive credit and payment for my work. After you rate the question you can ask follow up questions, and you will not be charged any additional money for the follow-up questions.
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