Originally Posted by calmloki
Outstanding! While an OCC doesn't address the desire for all cash now it's hard to argue with 6-6.5% interest. These days! - can you remember ever paying under 9% on commercial loans? Maybe we just haven't kept up with buying.
What is your take on taxes? My understanding is that capital gains taxes are going up 5% next year (could be wrong) - would you think of paying the entire tax bill on the sale(s) this year even if you had to reach into your pocket or would you pay the tax as principal came in? Not that taxes should drive decision, but interested in what you have discovered or are thinking.
Yeah, I remember having an OC at 9% interest....boy are buyers spoiled now!
On the Capital Gains, I am just going to wait until year end & see what options I have with an accountant. I won't know for a while how many (if any)properties will sell in 2010 and I may also sell one other property (a duplex) on a cash out basis, which would really make my taxes go thru the roof this year (Uncle Sam is going to Love this
It would be nice to take my capital gains tax this year, thanks for mentioning it.