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Ryan Cleary
  • Real Estate Agent
  • Palm Beach County, FL
248
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304
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Should I sell now or wait till October?

Ryan Cleary
  • Real Estate Agent
  • Palm Beach County, FL
Posted Jan 10 2021, 18:56

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?

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