When you have money to spend, what should you do with it to make a savvy investment for the future?
For example: let’s say you want to sell a property that’s in your portfolio, where should you put that money?
If you are selling an investment property you are going to pay up to 15% (or likely more) in capital gains. So how can you avoid paying those taxes and reinvest that money?
Answer: you use a 1031 tax exchange to buy a new investment property and save major $$$.
People that own investment properties in Big Bear and other vacation rental hot spots make money hand over fist while typically somebody else is managing their properties, taking away much of the mundane work a vacation rental requires.
Plus, if you buy an investment property you can use it twice a year or once a month- you decide what the schedule is and make it work for your dream lifestyle.
So here’s the deal: not only could you sell your home for a profit right now, you can reinvest your money and avoid capital gains taxes by investing in a vacation rental- giving you the opportunity to enjoy your property as well as make a profit every month!
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