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. #emamortgageteam #mortgagealliance #mississaugarealestate #oakville #oakvillerealestate #miltonontario #miltonrealestate #haltonhills #ancasterontario #ancasterrealestate #torontorealestate #georgetownontario #mortgagerates #mortgagebroker #mortgageagent #interestrates #mortgage #fthb #bramptonrealestate #hamiltonrealestate #ancastermortgage #ancastermortgageagent

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