Should I sell now or wait till October?

[Ryan Cleary]

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?

[Steve Vaughan]

Originally posted by @Ryan Cleary:

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.

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?

I'd wait. I don't see the low inventory,  high demand of today changing before Oct. 

Take advantage of the biggest tax break Uncle Sam offers. 

I have a rental I'm considering putting on the market for sale. The renters just moved out and listings are down 86% from Jan last year in my market. 220 normal, only 30 listed total. What??? I normally sell FSBO so I may try that for a week or 2, but this is a regular rental I've held a few years.