Hi There,
I was just wondering if there was anyone from Regina hanging around? My partner and I currently own two properties (our personal residence and a rental), but are kind of stuck as to what we should do next. Between both properties, we have around $300,000 in equity, and we`re ready to make our next move. One thought we`ve had is to sell our personal residence, and use that money to purchase a small apartment building, and move into our rental. That way we would avoid paying any capital gains tax. We would then put some money into our rental to fix it up a bit, and then sell that property as well. We would use that equity to purchase a new home to live in, and use the remaining money finance another rental home.
It would be great to speak with someone who lives in Regina, and has some experience with the local real estate market.
I was just wondering if there was anyone from Regina hanging around? My partner and I currently own two properties (our personal residence and a rental), but are kind of stuck as to what we should do next. Between both properties, we have around $300,000 in equity, and we`re ready to make our next move. One thought we`ve had is to sell our personal residence, and use that money to purchase a small apartment building, and move into our rental. That way we would avoid paying any capital gains tax. We would then put some money into our rental to fix it up a bit, and then sell that property as well. We would use that equity to purchase a new home to live in, and use the remaining money finance another rental home.
It would be great to speak with someone who lives in Regina, and has some experience with the local real estate market.