Toronto: To Sell or to Hold ?
I have a 100 year old duplex in east side of Toronto. I believe we will be going through either a flat or most likely a down market that could last upto a decade. Should I:
a) SELL and realize gain, or
b) HOLD and try to ride through the next 10-15 years.
If I decide to Sell, I will have to pay Cap Gain taxes and then wait on the sidelines to re-enter the market or find a new one.
If I Hold, I have tenants locked in for the last 6-7 years, so the rents are on the lower side. But these are quality tenants. There might be no net cash flow and I am hoping no massive capital expenditure in the coming years.
I am interested to know the opinions of actual Investors and leverage collective wisdom. Real Estate pundits and real estate professionals are usually very Bullish and their views conflict with mine. Am I being too shortsighted (3-8 years) or my assessment of market is more probable?
Send me your views and please restraint from using foul language :)