A veteran and his wife owned their home in the very popular Rancho Penasquitos area and used it as a rental for many years. They decided to cash out and place there property on the market. We listed and sold their property after just 5 days on the market. We received numerous showings and had multiple offers. Our seller walked away with a great profit in his pocket and utilized the 1031 exchange to acquire another investment property, therefore they paid no taxes on their profit gain. If you own an investment property currently and you sell that property and utilize the profit to buy another investment property you pay no capital gains tax. Another reason why real estate investing is on of the best ways to invest in your future.
Posted on: Thu, 06 Nov 2014 22:13:14 +0000
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