Contrary to the present approach of investors purchasing property at break-neck speed, now would be a great time to sell. It goes against everything that investors are doing right now (with the exception of “flippers”).
If an investor has held a property for a time and has ever considered selling, now is a great time to do so. The reasons are many but the main one is being spurred by our government. Unless things change, starting next year the capital gains tax is going to increase substantially. The powers that be are looking for revenue and what better opportunity is there than the elimination of our present low capital gains tax?
Certainly, there are other reasons such as pent-up demand by buyers, still low interest rates and continued affordable prices. However, trumping them all is the present capital gains tax. So, investors…if you are considering selling, check with your CPA. Now might be a great time to take advantage of low capital gains taxes!
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