I am stuck here. I have a property I’ve had for a number of years. I rent it for good cash flow, have around 200k in equity, and a 2.75% mortgage rate. Don’t live in the state anymore, and I always thought I’d keep this for 40+ years… but now I don’t know if they cut the gov like they’re saying.
What say you?
The value will go up when the rats leave.
I'd hang on to it personally. Even when the government is cut other things will be growing exponentially and remember, POTUS has YUGE plans to clean up DC! Tourism will skyrocket because everyone will want to come while he's in the White House. Hope he builds the Garden of Heroes there!
And see the new FBI museum.
Yes! 😸
Don’t sell. Keep it, there is no indication its value will go down even if some leave DC.
Sell it now, buy gold. hold a few years, buy 10 houses with that same money you sold from 1 house. That's the better plan
I'm not a real estate expert by any means but we already know, and Trump has been talking about, breaking up the parts of the federal government we're keeping and moving them to different parts of the country where they belong.
I highly doubt real estate in DC will weather this storm. Same with places like Los Angeles, there is going to be so much empty real estate that values are going to shit when the illegals leave and they won't be coming back up to where they are now.
Think about if like this, is there any course of probable action that could lead to your property increasing in value? If not, then the question is how much will it decrease. If Trump V2 cuts even 60% of the federal work force, what's happens? If they follow through with piecing DC out and spreading it across the country, how much of a decrease then? Lastly, what alternative option does DC have for jobs besides the federal government?
I just don't see any of this going well for real estate in blue urban areas, let alone a place like DC.
Disclaimer: my 2 cents, not "official" advice.
If the jobs go away, so do the people.
Keep it. It’s a tangible asset that brings steady cash flow. I’d never sell a property, unless it operated at a loss.
Sell and reinvest somewhere else. Avoid capital gains that way.
Sell and convert to precious metals.
If somebody else is buying property for you, keep accepting their money.
According to what I have read Washington is not a state it is a foreign country.
DC Metro could mean VA or MD
The majority of DC and Northern Va are government employees, in some form. Unless they all flee to government contracting jobs in the area, it’s gonna be a ghost town.
Dump it fast.
Personally, I'd hold onto it. But do what seems best to you. You're the one who has to live with the decision. I like the idea of having something in that area (I don't) but if I did, I think I'd hold on to it. That's just me.
Dump it. If Russia makes a move, where do you think it will be?
If it's making money, keep it.
Noice. Me? I’d sell it quick and GTFO once and for all. Drained swamps leave a long lasting stench.
Even if inflation goes down property tends to hold value. If you are not taking a loss I would keep it. I mean yes, the swamp will hopefully be fully drained but there will always be people living in DC and there are so many monuments there and museums, there will always be visitors and people living there doing those jobs. I say keep it and follow through with your original plan.
Oh and before people judge my word hopefully, these rats seem to be hiding everyone and I fear there will be some that slide under the radar.