Get Rich Slow by Sarah Riegelhuth

Author:Sarah Riegelhuth
Language: eng
Format: mobi, epub
Publisher: Wiley
Published: 2012-11-19T21:00:00+00:00

Capital gains tax can be an important consideration when selling any investment asset. If it isn’t going to make a lot of difference to the price we are able to achieve, and we have held the asset for less than 12 months, it may be worth holding it for the full year. That said, if there is a lot of fluctuation in price and a good offer is on the table, it may be smarter to dispose of the asset when the opportunity arises, rather than risking a much reduced offer.

Renovator’s delight

Because of the high costs of acquiring property, it is generally a long-term investment. However, some people are able to generate a good living purely through buying rundown properties, renovating them and selling them on for a profit. This activity could be compared with an active day trader of the stock market who hunts for mispriced shares and aims to turn them around quickly for a profit. Just like day trading the stock market, short-term investment is a far riskier way to invest in property, but it can suit people with the right mix of market knowledge and practical skills.

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