Here’s why now is a good time to sell your investment properties.
Whether they’re single-family homes, duplexes, townhouses, or multi-family apartment buildings, why should you consider selling your real estate investment properties now? Today I’ll share five reasons why selling them soon is a good idea:
1. The prices are at a peak. Prices have been going up for the last 10 years—at some point, that increase is going to stop.
2. Rent is at a premium price right now. Rents are at the highest point they’ve been in a long time, and multi-family properties are generally at 100% occupancy these days. If you sell now, you’re sure to get a better price for your property.
3. You can trade into another piece of real estate. If you don’t want to pay capital gains taxes when you sell, you can instead opt to do a 1031 exchange. That allows you to take the proceeds from your sale and roll them into the purchase of a new investment property, all without having to pay capital gains tax.
4. The government is talking about raising the capital gains tax. If you’re not doing a 1031 exchange, you may want to cash in and pay the capital gains tax now before it goes any higher.
5. You can cash out now and re-enter the market when prices are lower. This is a good idea if you decide you want to be a landlord again in the future. Many people are taking advantage of this now.
If you’re thinking of selling your investment property and want to know its value in today’s market, or if you have any other questions, give me a call or send me an email. I’d love to help you.