This is a behind the scenes look at our local Mortgage Market in GTA West and South West Ontario. We discuss real life experiences of clients, partners and experts. Listen to learn and be entertained.
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This is a behind the scenes look at our local Mortgage Market in GTA West and South West Ontario. We discuss real life experiences of clients, partners and experts. Listen to learn and be entertained.
Episode 35: Top 5 things to consider when Selling your Investment Property
Behind the Scenes EMA Mortgage Podcast
2 minutes 22 seconds
4 years ago
Episode 35: Top 5 things to consider when Selling your Investment Property
Top 5 things to consider when selling your investment property
(1) Lifestyle Goals
Being a Landlord is real work -
Do you feel that you dont want to do this anymore
Take back your time to manage other things rather than your rental/s
(2) Retirement Planning
Should you keep the rental property for the Cashflow OR
Cash In and enjoy the equity… Increased Value and Paying Down Your Mortgage. You may
Use for Travel more, buy a boat OR really use it to cover your retirement Lifestyle.
(3) Taxes
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.
Talk your tax accountant, as you may deduct the selling costs such as real estate commission, and legal fees. You may also deduct
renovation costs.
(4) Asset Allocation
You may have used Real Estate Investing to DIVERSIFY your Investment Portfolio. You have to re-evaluate
how selling your Investment property affects your overall Portfolio.
(5) Investing the Proceeds
After selling your Investment Property, how much do you want to reinvest,
how much do you want to set aside to spend immediately,
do you want to give some to your adult kids as Inheritance?
For the last one, you may want to consult with your Estate and Tax Lawyer.
Message me if you want an exit strategy on your Investment Property.
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Behind the Scenes EMA Mortgage Podcast
This is a behind the scenes look at our local Mortgage Market in GTA West and South West Ontario. We discuss real life experiences of clients, partners and experts. Listen to learn and be entertained.
