Episode 35: Top 5 things to consider when Selling your Investment Property

<p class="p1">Top 5 things to consider when selling your investment property</p> <p class="p2"> </p> <p class="p1">(1) Lifestyle Goals </p> <p class="p1">Being a Landlord is real work - </p> <p class="p1">Do you feel that you dont want to do this anymore</p> <p class="p1">Take back your time to manage other things rather than your rental/s</p> <p class="p1">(2) Retirement Planning</p> <p class="p1">Should you keep the rental property for the Cashflow OR</p> <p class="p1">Cash In and enjoy the equity…  Increased Value and Paying Down Your Mortgage.  You may</p> <p class="p1">Use for Travel more, buy a boat OR really use it to cover your retirement Lifestyle.</p> <p class="p1">(3) Taxes</p> <p class="p1">50% of the property’s capital gain is subject to tax.  It will be added to your taxable income for the year you sell the property.</p> <p class="p1">Talk your tax accountant, as you may deduct the selling costs such as real estate commission, and legal fees.  You may also deduct</p> <p class="p1">renovation costs.</p> <p class="p1">(4) Asset Allocation</p> <p class="p1">You may have used Real Estate Investing to DIVERSIFY your Investment Portfolio.  You have to re-evaluate</p> <p class="p1">how selling your Investment property affects your overall Portfolio.</p> <p class="p1">(5) Investing the Proceeds</p> <p class="p1">After selling your Investment Property, how much do you want to reinvest, </p> <p class="p1">how much do you want to set aside to spend immediately,</p> <p class="p1">do you want to give some to your adult kids as Inheritance?  </p> <p class="p1">For the last one, you may want to consult with your Estate and Tax Lawyer.</p> <p class="p2"> </p> <p class="p1">Message me if you want an exit strategy on your Investment Property.</p> <p class="p1"><a href='https://www.linkedin.com/feed/hashtag/?keywords=emamortgageteam&highlightedUpdateUrns=urn%3Ali%3Aactivity%3A6796550648830816256'>#emamortgageteam</a> <a href='https://www.linkedin.com/feed/hashtag/?keywords=mortgagealliance&high