This is a personal story. I and my wife owned an investment property that was a big hassle. Lots of calls and repairs were taking time away from our free time. It was a good investment but, the time factor was too much.
So, we decided to sell but, had a ton of equity. This equity when you sell is considered a capital gain and is taxable. We know of a tax rule called the 1031 Exchange. It allows you to sell an investment and do an exchange into a new investment. This defers the capital gain on your taxes.
That is what we did. We sold the property and purchased a new investment with less hassle and more upside.
Do you have investments in real estate that seem like hassles? Send me the address and let’s talk about how you can sell and buy something new with less hassle and more upside.
Nick McLean Real Estate Goup
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