By Jason Salmon, Senior Vice President, Kay Properties & Investments
Many investors recoil at the thought of selling an investment property. And they usually have a good reason, whether it’s missing out on future appreciation, having to pay a massive tax bill, or other factors. However, it can often make good sense to sell your property thanks to a real estate investment alternative that simplifies your life and lets you defer the taxes using a 1031 exchange. So, let us take a look at six reasons you may wish to consider when selling and reinvesting in this alternative.
Reason 1: You’re Sick and Tired of Actively Managing Your Investment Property
Let us face it, managing real estate is often a “real” hassle. You have to keep your eye on the ball 24 hours a day, seven days a week. And dealing with tenants, stopped-up toilets, and trash just gets old after a while. Sometimes even the sound of a ringing phone can fill you with dread.