On today’s episode, we are going to discuss some strategies for selling highly appreciated real estate. Whether you own a vacation home or a rental property in this current real estate boom, you’ve probably thought about what the selling process would look like. What would the tax bill be? How can you make the most out of selling this asset?
If you do decide to sell, you want to be very intentional. It is possible to sell a property and use a 1031 exchange to buy another property, deferring the taxes. On the other hand, a lot of people want to get away from being a landlord. We call this passive real estate and you have a few options for deferring taxes through a DST. But if you are determined to sell and get out of real estate completely, there are various options out there to re-invest that capital. Make sure to always speak with a professional before selling, to ensure you can be tax efficient.
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TIMESTAMPS:
0:00 – Highly appreciate
0:54 – Selling my vacation home
2:35 – DST and tax implications
4:10 - Getting out of real estate
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