From the Agent: “Step aboard a one-of-a-kind, three-story floating home where bold architectural vision meets serene waterfront living. Located on coveted Liberty Dock—Sausalito’s premier floating home community—this residence offers breathtaking sunrise views over Richardson Bay and vibrant sunset skies each evening. The home has been meticulously reimagined in collaboration with award-winning firm Loczi Design. From artisan tilework and curated finishes to a layout that mirrors the movement of the water, this is a home with soul. More than a home, it’s a statement, a sanctuary, and a way of life.”

If you own rental properties, this post may resonate with you. It’s about what to do with a property once a tenant gives notice: keep renting it out, sell and pay capital gains taxes, sell via a 1031 exchange to defer taxes, move back in to avoid taxes, or—most controversially—simply leave it empty.

For most of my career writing about real estate, I’ve focused on buying properties and building wealth. But as we get older, the question of when to simplify becomes just as important. John, a longtime reader, is facing this very crossroads. His situation offers a useful case study for anyone deciding whether to hold, rent, cash out, or landbank.

John’s Rental Property And Wealth Situation

John owns a San Francisco rental property that will be vacant on November 1, 2025, after his tenants gave notice. He bought the home years ago for $1.85 million and invested roughly $180,000 in upgrades. Today, he estimates it could sell for $2.7 million.

The good news is that the property is free and clear—no mortgage. However, carrying costs still add up. Property taxes alone are about 1.24% of a $2.3 million assessed value (~$25,000/year), and with insurance, utilities, and basic maintenance, total holding costs are around $30,000 a year.

The home currently rents for $8,200 a month, with market rent closer to $8,500, generating $102,000 a year in potential income. But John is tired of tenants and the stress that comes with managing rentals. John is strongly considering selling or leaving it empty. He believes his home will appreciate handsomely over the next decade due to the tech boom.

Further, John invested in several private AI companies during the pandemic that have since grown to roughly eight times their original combined value. More importantly, his seven-figure public stock portfolio is also up ~100% since January 1, 2020. So maximizing rental income is no longer a financial necessity for him.

The Four Main Options For The Rental Property

Although John can afford to leave his San Francisco rental property empty, he must first consider these four more optimal financial choices.

1) Rent It Out Again

John could re-tenant the property for $8,200 – $8,500 a month and continue collecting strong cash flow. The risk is that if he later decides to move back in or sell, tenants might still be in place—creating timing conflicts and potential headaches.

In 2028, John plans to relocate his family back to Charlottesville, Virginia, to be closer to his mother. Ideally, he’d like to sell all his rental properties before the move. But if the new tenants haven’t left by then, he’ll either have to become a long-distance landlord or hire a property manager.

2) Sell And Pay Capital Gains Taxes

John sold another property in July 2025, so he has already used his $500,000 tax-free primary residence exclusion until July 2027.

If he sells now, he faces about $500,000 in capital gains. At a combined 33.2% federal and California tax rate, plus ~5% in commissions and transfer costs (~$130,000), he estimates he’d owe around $300,000 in taxes and fees. A painful number, but one that would free up roughly $2.4–$2.5 million in net cash for other uses.

With Treasury bonds yielding over 4%, John longs for a simple, risk-free way to earn money. At the same time, he owns an ideal single-family home that can comfortably house a family of four or five in the heart of a new tech boom. Potentially missing out on another 30 – 40% in appreciation over the next decade may cause a lot of regret.

3) Sell Via a 1031 Exchange

A 1031 exchange would allow John to defer the taxes if he reinvests the proceeds into another rental property. But this strategy means buying a replacement property and continuing to deal with tenants—exactly what he’s trying to avoid.

4) Move Back In

By moving back into the property for at least two years, John could eventually sell it tax-free under the primary residence exclusion. Even though there’s no mortgage interest to deduct, the SALT cap deduction limit to $40,000 from $10,000 under the One Big Beautiful Bill Act should help reduce John’s taxes.

But moving back in would mean giving up the rental home his family currently enjoys. That said, the timing would work if he really plans to relocate back to Virginia in 2028. He has time to give his 45-day notice to his landlord and arrange for the movers.

The Temptation To Leave The Rental Empty

Now that we’ve covered the most sensible financial options for John’s rental property, let’s consider a fifth choice: leaving the property vacant.

With a healthy net worth and a comfortable income, John is tempted to keep the house as a “quiet asset,” free of tenants. This way, he has minimal headache and maximum flexibility on when to sell when he moves to Virginia.

The annual carrying cost of about $30,000 is manageable, but the opportunity cost of forgoing $102,000 in annual rent is significant.

With the AI tech boom, John is long-term bullish on San Francisco real estate. In 20 years, he believes the property will surely be more valuable than it is today. If mortgage rates continue to trend lower, he believes the pace of annual appreciation will surpass the property’s carrying costs.

How Wealthy Do You Need To Be To Comfortably Leave a Rental Empty?

John’s numbers provide a rare window into what it takes financially to luxuriously hold a high-value property with no cash flow. Here’s how to think about it, both for John and for any landlord weighing a similar decision.

1. Annual Carrying Costs vs. Net Worth

John’s holding cost of $30,000 a year is about 1.1% of the property’s $2.7 million value. Whether that’s “affordable” depends on what share of his total net worth it represents.

• At a $2 million net worth, $30,000 equals 1.5% of wealth—a noticeable bite.
• At a $5 million net worth, it’s 0.6%—easier to stomach.
• At a $10 million net worth, it’s just 0.3%—much easier to stomach.
• At a $20 million net worth, it’s just 0.15%—a rounding error that isn’t noticeable.

For most landlords, if the carrying cost is under 0.5% of total net worth, leaving a property vacant starts to feel like a lifestyle choice rather than a financial mistake. John can afford to wait months, if not years for the perfect tenant to come along and not cause him trouble.

John should also consider the lost income from not renting, along with the carrying costs. A similar calculation could be made to quantify the impact. However, since John has already decided he’d rather forgo the rent to avoid the hassle, that calculation is ultimately moot.

2. Carrying Costs vs. Passive Income

Another worthy metric is whether your passive income—dividends, bond interest, other rentals—can easily cover the cost.

• With $300,000 a year in passive income, $30,000 is only 10% of that income.
• With $60,000 a year, it’s 50%, which feels far riskier.

A helpful rule of thumb: if carrying costs are under 10% of passive income, you have the “luxury gap” to leave a property idle indefinitely.

3. Opportunity Cost: The Rent You’re Giving Up

Finally, weigh the lost rent. John’s property could fetch about $102,000 a year in rent.

• For a $2 million net worth, that’s a 5.1% yield—hard to ignore.
• For a $5 million net worth, it’s 2%—still meaningful.
• For a $10 million net worth, it’s about 1%—easier to justify if peace of mind matters more than incremental return.
• For a $20 million net worth, it’s about 0.5%—almost insignificant for the benefit of peace of mind.

Example Comfort Levels

Net Worth	Annual Carrying Cost ($30K) as % of Net Worth	Lost Rent ($100K) as % of Net Worth	Comfort Level
$2M	1.5%	5%	Tough unless income is very strong
$5M	0.6%	2%	Manageable if passive income covers it
$10M	0.3%	1%	Comfortable “luxury choice”

These ratios give any landlord a framework for deciding when leaving a property empty is a sensible trade-off for freedom and flexibility.

Lessons for Fellow Rental Property Investors

If you’re facing a similar crossroads, here are a few takeaways from John’s experience so far:

• Taxes Drive Timing. The IRS’s primary residence exclusion and 1031 exchange rules can save hundreds of thousands of dollars, but they dictate your calendar. Plan your sequence of sales early.
• Lifestyle Over IRR. A spreadsheet might tell you to hold for higher returns, but if a property causes stress or limits your freedom, selling can be the smarter long-term move.
• Simplicity Has Value. Carry costs on a vacant property may not break you, but they weigh on you over time, financially and mentally. The simpler your life is, the less of a desire you’ll have for selling a rental property.
• 1031 Exchanges Are Powerful but Binding. They’re great for investors committed to real estate, but they don’t fit well if your goal is to downsize or exit the landlord role.

Final Thoughts

John admits that paying about $300,000 in taxes and fees to sell when he could simply rent or hold feels extreme. He could hold onto the property until death so his kids could benefit from the step-up in cost basis and pay no taxes. At the same time, selling would simplify his life and bring him one step closer to his goal of relocating to Charlottesville to care for his mom.

For other landlords, the takeaway is clear: if your carrying costs and lost rent are a small fraction of your net worth and passive income, you may one day earn the rare privilege of keeping a property empty purely for peace of mind.

But if those numbers still feel significant, the math will likely push you toward either renting for income, selling for liquidity, or exchanging for a more strategic property.

Readers, What Would You Do?

If you were in John’s shoes, which path would you choose?

• Rent it out for $8,500 a month and keep the income stream alive?
• Sell now and pay the taxes and commission for a cleaner, simpler life for the next two years?
• Move back in to reset the primary residence exclusion clock, but go through an inconvenience and lifestyle downgrade?
• Execute a 1031 exchange to defer taxes but stay in the landlord game?
• Leave it empty and just pay the carrying costs for simplicity given his high income and net worth.

I’d love to hear your thoughts! Have you ever considered leaving a rental vacant even when you could rent it for strong income? At what wealth or income level would you feel comfortable doing so? John’s case shows that while financial freedom creates options, every option carries its own trade-offs.

Suggestions To Build More Passive Wealth

Invest in real estate without the burden of a mortgage or maintenance with Fundrise. With over $3 billion in assets under management and 350,000+ investors, Fundrise specializes in residential and industrial real estate. The wealthier you get, the more you’ll want to earn passive real estate returns and not bother with tenants.

To expedite your journey to financial freedom, join over 60,000 others and subscribe to the free Financial Samurai newsletter. You can also get my posts in your e-mail inbox as soon as they come out by signing up here.

Financial Samurai is among the largest independently-owned personal finance websites, established in 2009. Everything is written based on firsthand experience and expertise.

NBA Star Hassan Whiteside
Selling Miami Beach Mansion for Millions!!!

Published August 17, 2025 8:10 AM PDT

Hassan Whiteside is trading his waterfront estate for a fat paycheck — cause the former Miami Heat star just listed his Florida mega-mansion for a cool $15.8 million.

The contemporary pad sits on nearly 18,000 square feet of gated land with 90 feet of waterfront on Miami Beach’s Surprise Lake.

The crib flexes 5 bedrooms, 7.5 bathrooms, and huge open spaces for living, dining, and entertaining — all with killer water views. Whiteside didn’t cut corners either … the place is decked out with stunning marble and hardwood floors, a chef’s kitchen with top-of-the-line appliances, and even a built-in aquarium.

There’s more … a sick rooftop lounge with a firepit and TV, a garage turned into a gym, a movie theater, custom bar, 45-foot dock with 3 Jet Ski slips and a pool with a waterfall.

Whiteside played five seasons with the Heat, and clearly lived the Miami dream while he was at it. Now, someone else with deep pockets gets to call this baller estate home!

Jill Eber of The Jills Zeder Group and Melissa Barragan, VP of Dezer Platinum Realty LLC, hold the listing.

But things looked a lot different just two decades ago when he first moved to the city. Eklund was handing out paninis in front of the Late Show with David Letterman for just $15 an hour before he got a shot at selling luxe apartments. 

“This was at a time when New York—and I didn’t know it then—was very undervalued,” Eklund tells Fortune. “And it was about to explode in what I’ve been focusing on: new developments, and these new beautiful buildings.”

“I was a little bit lucky to happen to fall into it; I got my license at NYU and I got a job from someone stupid enough to hire me with no experience.”

Eklund now leads a real estate powerhouse of around 100 agents, the The Eklund|Gomes Team, at luxury firm Douglas Elliman. He leads offices in 10 markets, with celebrity clientele ranging from Jennifer Lopez to Joe Jonas, as he takes over America’s real estate scene. Aside from New York, the self-made millionaire also has his eyes set on Miami as a sales ambassador for a $2 billion luxury living project in Bahia Mar, working with real estate titan Jorge M. Pérez’s Related Group. 

But his rise to fame in the industry—and on Bravo—was anything but meteoric. It took years to achieve success after Eklund cleaned his slate and moved from Stockholm to New York City with nothing. No connections, no business, and no clear plan of what he wanted to pursue. 

“It was very scary to not really know the city, because I didn’t have any context here,” Eklund says. “Nobody would give me any business, because I didn’t know anybody.”

From handing out paninis outside David Letterman to helping close $15 billion in real estate 

Needless to say, Eklund didn’t propel straight into a top real estate firm when trying to find his first gig in New York City.

“We were handing out paninis for free for one of those cafe restaurants right outside David Letterman,” Eklund recalls. “As part of the job, we got a penny a panini. I think we got $15 to $20 an hour, which is not bad. They had some free lunch.”

But Eklund was determined to not hand out paninis for life, and then a friend suggested real estate as a potential career path, fitting for Eklund’s outgoing persona. Intrigued by the idea, Eklund soon got his real estate license from New York University, and a boutique property agency offered him a role. Six months later, he landed his first client. And it was all thanks to his friend being perceptive on what profession Eklund could stand out in. 

“After the paninis thing, I was like, ‘What am I actually going to really do?’” Eklund says. “A friend of mine told me that I would be really good at real estate, because I have this crazy persona—a very large, eccentric, entertaining, and bubbly personality. But I’m also super driven, cutthroat, and very competitive.”

Millions of viewers from across the country would soon tune into his competitive edge on Million Dollar Listing New York. Eklund was an original cast member when the Bravo show premiered in 2012, and stayed on for a full decade until his departure in 2022. 

Ever since, Eklund had been building his own real estate empire, recording $3.77 billion in sales across New York, California, Florida, and Texas in 2023 alone. Notable clientele include Sex and the City icon Sarah Jessica Parker, as well as Hollywood power couple Chrissy Teigen and John Legend. And Eklund says he’s proud that he’s built his $15 billion empire from the ground-up.

“I didn’t have all those contacts, or a sort of easy beginning. Nobody did me a favor, or my dad or mom,” Eklund says. “I did it all by myself—I put it all on this one thing, and it worked.”

A word of caution to aspiring real estate millionaires: Success doesn’t come fast

While Eklund has two decades of accomplishments under his belt, he has a word of caution for other aspiring real estate agents looking to replicate his success. Becoming well established in the profession takes years to get there, and doubt creeps in along the way. 

“I would say it takes five years to really make it,” Eklund warns. “It’s a very difficult industry because it’s super, super competitive, so you cannot give up like I almost did. I wanted to give up after two, three years. I was like, ‘This is not for me, I’m not doing well enough.’”

Being able to tough out the early years can lead to million-dollar closings across New York, Los Angeles, and Miami, but it takes a certain type of person to make the cut. While Eklund says he has the eccentric personality and drive to stand out, there’s another part of his persona that’s a double-edged sword in the job. It could be the trait that makes or breaks someone in real estate, but he leverages the perceived flaw to his advantage. 

“[Real estate is] an art and a craft, and the only way to learn is the hard way. You cannot really learn it in school. [You’ve] gotta be out on the streets, the mean streets,” Eklund explains. “It takes a long time, and if you’re an impulsive and impatient person—which I am, and can make you even more successful at work—it’s very easy to kind of find a new hobby or a new thing.”

Designer: Benjamin Brennan

Footprint: 3,170 square feet (4 bedrooms, 3 baths)

Lot Size: 0.31 Acres

From the Agent: “This contemporary home takes full advantage of the sweeping Norwalk Harbor waterscape. It was constructed in 2018 with the finest materials, taking advantage of ever-changing vistas from every room. Perfect for family gatherings or entertaining, there is a deck spanning the entire waterfront side of the house. An open floor plan on the main level flows between the living room, dining room, and kitchen. In addition, there is a family room, a spacious pantry, and a half bath. On the upper level is the primary bedroom suite, two additional bedrooms with en suite baths, and an office area that could easily be a nursery, bedroom, or gym. Four dedicated storage rooms off the garage provide space for outdoor equipment, trash/recycling, and more. The property is peaceful and private with a lovely walkway amongst native grasses and perennials leading to a lush lawn on the waterfront side.”

Selling the OC’s newest cast member, Ashtyn Zerboni, is a new mom!

The luxury real estate agent revealed exclusively to Us Weekly that she welcomed a daughter, Juliette Jolie, with husband Jeffrey Zerboni on Tuesday, July 22. She also shared a photo of herself snuggling Juliette as Jeffrey stood next to her hospital bed.

“There are moments in life that change you forever — and for me, meeting our daughter for the first time was one of them. On the beautiful summer evening of July 22 [at] 7:45 p.m. Jeffrey and I welcomed our baby girl into the world: Juliette Jolie Zerboni. She weighed 6 pounds and 9 ounces,” Ashtyn shared with Us.

Ashtyn said it was “a special process” choosing her baby girl’s name.

“We wanted something soft and elegant, something that felt like her — even before we knew her,” she explained. “Juliette was inspired by Jeffrey’s roots — he was born in Nice, France, and we both loved the timeless romantic beauty of the name. Her middle name, Jolie, means ‘pretty’ in French, and it just felt so natural and fitting for the little girl we’d been dreaming of.”

Ashtyn added, “But perhaps the most touching part of Juliette’s name is the nickname that Jeffrey plans to call her: ‘Jo.’ It’s a sweet tribute to his late father, Joseph, who recently passed away. Carrying his name forward in this quiet, powerful way ensures that his memory will always be woven into the fabric of Juliette’s life.”

Ashtyn said that everyone in Jeffrey’s family has a “J” name, so monogrammed “JZ” hand-me-downs are plentiful and will “work perfectly” for their new addition.

“Jeffrey and I are completely smitten,” she said. “We spent our day just staring at her little face, soaking in the tiniest expressions and moments. She’s brought so much love and light into our lives — more than we ever imagined possible.”

Ashtyn has had a busy few weeks, as she was recently cast in Netflix’s Selling the OC, which follows the Oppenheim Group’s Orange County real estate agents. “The secret’s out… I’m one of the newest cast members on Selling the OC Season 4,” she shared via Instagram on July 14.

The former model and actress has “a passion for high fashion, photography and the arts,” according to Netflix’s Tudum and is known “for her commitment to personalized service and leveraging her thriving social network to unlock exclusive opportunities for her clients.”

In addition to returning cast members Jason Oppenheim, Alex Hall, Polly Brindle, Tyler Stanaland, Gio Helou, Austin Victoria, and Brandi Marshall, Ashtyn and two other agents — Fiona Belle and Kaylee Ricciardi — will be joining the Orange County office when season 4 premieres on November 12.

“It’s been exciting, surreal and definitely a whirlwind. But through all of that, nothing compares to the love I feel holding our baby girl,” Ashtyn told Us. “So here we are — a new baby, a new chapter and a heart fuller than I ever thought mine could be. Juliette Jolie Zerboni is sure to grow up surrounded by a whole lot of love — and a little bit of Hollywood sparkle.”

With reporting by Erin Strecker

nick and vanessa lachey
selling lavish california estate for millions!!!

Published June 23, 2025 6:44 PM PDT

Nick and Vanessa Lachey are parting ways with their Southern California home — listing the gated property less than a year after purchasing it … TMZ has learned.

Real estate sources tell us … the couple put the modern Encino estate on the market on Monday for a cool $7.4 million … they bought the house back in July for $6.7 mil.

The home has over 8,000 square feet of living space with 6 bedrooms and 9 bathrooms. It’s got all the bells and whistles … the backyard is a private resort of its own featuring a sparkling pool, separate guest house, and basketball court.

Downstairs, things get even more fun with a full-scale entertainment basement, complete with a sleek bar, media lounge, and gym

The heart of the home is a chef’s dream — a state-of-the-art kitchen featuring marble surfaces, soft muted tones, and a spacious butler’s pantry — perfect for high end gourmet dinners.

Security and serenity go hand-in-hand at the property, which boasts perimeter surveillance, a bank-grade safe room, and a three-car garage.

Craig Knizek and Mauricio Umansky of The Agency hold the listing.

After securing the No. 2 NFL draft pick, Travis Hunter and his wife have officially settled in one of Florida’s most exclusive neighborhoods. The couple got married last month, and just days later, they bought a $3.3 million mansion in Jacksonville– where Hunter is set to start his first professional season in the fall.

The 8,125-square-foot property has two stories and even has a four-car garage. It was originally built in 1995, but after a series of owners, the home has had plenty of upgrades and updates, according to Jax Daily Record. From a tennis court and pool to a home theater and wine cellar, take a look at the estate the Hunters can now call home.

Gated Community

The house is part of a grated community in the Deerwood Country Club in Jacksonville. According to The Real Estate Insider, the home is the most expensive property in the neighborhood.

Living Room

The living room area is decked with built in features like this fireplace and the bookshelf.

Dining Room Area

According to the Hunters’ real estate agent, the NFL star toured 16 homes with his wife and brother before deciding on this one.

Master Bedroom

Hunter’s home has five bedrooms and seven bathrooms.

Master Bathroom

The master bathroom has a shower, bathtub and his and hers sinks… What else could you ask for out of a master bathroom??

Walk-In Closets

Another impressive aspect of the home is these massive walk-in closets.

Laundry Room

This laundry room is loaded with not one– but two washer and dryer units. Plus, this spacious area has plenty of room for extra storage.

Office

Hunter bought the house from Gregory Blair Stringfellow and Angela Evangelista Stringfellow in May. The Stringfellows originally bought the home in 2010 from former Green Bay Packers LeRoy Butler.

Private Gym

For a NFL star in the making, this home gym will likely prove vital to Hunter’s career.

Wine Cellar

This wine cellar is straight out of The Cask of Amontillado!

Home Theater

In addition to all the other amenities this home has to offer, Hunter also secured a private home theater. This is perfect for entertaining guests, watching football highlights or a simple movie night with his wife.

Pool

Built in 1995, the home sits on 7.5 acres and includes this amazing pool and waterfall.

Open Floor Concept

The mansion has an open floor concept, which gives the already massive space an even bigger feel.

Kicthen

Who doesn’t love an updated kitchen with appliances straight out the future?

Tennis Court

The mansion also has a private tennis court. It’s unclear if Hunter is a fan of the sport, but if not, he can always transform the space into something more fitting for an NFL player.

Backyard

The space is the perfect spot for Hunter to get some practice drills in.