Seriously Considering selling my small buy yo let
Property Investment

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122 Posts
1 year ago

Any advice gratefully received as I have only ever bought houses not sold them.
I have a small portfolio and considering selling the first one I bought where I originally lived. I have a good paying tenant that has been there about 8 years. I don’t really know him as it was originally managed by a letting agent. When this letting agent gave her business to someone else it started to go wrong so I took on the property about 1.5 years ago. I am seriously considering selling as the compliance’s are going to get too much for me with a young family. I don’t know how to calculate the capital gains tax I would have to payne I have remortgaged to but other investment properties and my new residential home.
I also don’t know whether to offer it to the current tenant / how to do this / or the best way of selling with a sitting tenant (he is out of contract) or getting a quick sale. It would be nice to make a little profit after I have paid off the mortgage and paid off some credit cards —- hahaha. The property is in the East Midlands near JCB. Any ideas or suggestions are welcome (not heard back off the accountant yet but thought some of you may have some suggestions)
Thank you

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