If you bought a property as an investment asset, you obviously had the intention to get as much money out of it as possible. Paying capital gains tax can obviously disrupt those plans somewhat. However, there are ways that smart investors can reduce the impact of the capital gains tax on their home sales.
MABANI REALTY INC.'s blog
One mistake many make is that because they don't have enough cash to invest in real estate, they won't be
able to purchase property.
You can use your home equity for the down payment for a rental property, and get amortgage on the rental property itself.
There are some properties that will cashflow positive even whenyou borrow the entire value.
Contact us to find out how it can be done!
The first quarter of 2020 started off strong until the pandemic hit in mid-March followed by the province-wide shutdown, which resulted in historical low market activity. However, sales growth quickly rebounded in the latter half of the year, which is a testament to the resilience and flexibility of the regional economy and population. For 2020 as a whole, 95,151 sales were reported through TRREB’s MLS® System, an increase of 8.4 per cent year over year, whereas new listings were up only by 2.6 per cent.
Toronto is a great city. It is safe, tolerant, multicultural, the world's envy with its arts, restaurants, neighbourhoods, parks and ravines...it is truly an incredible city! We all are fortunate to live here and many worldwide would agree.