Should I sell now or wait till October?
I am in the middle of a Live-in flip (purchased in October of 2019).
My original plan was to wait 2 years to avoid capital gains taxes. I am just worried that we are in a bubble and I want to capitalize before it pops. This is a 1 bedroom condo that does not make sense to rent out.
Purchase price: 390k
Rehab: 30k
Current value: 485k
When I say 485k, I mean that if I put it on the market for that price today then it would have 10 offers for that price within a day.
So the main question is:
Do I sell it now and pay the higher taxes on the sale, or do I gamble with waiting till October to avoid paying capital gains taxes?