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I told you this a few weeks ago and I am repeating the message now….. this is a very good time to be buying real estate. Why? The oldest reason in the world. Very simple. Prices have been going down down down for months now. For decades, the pattern of values in Southern California has been: prices go up and then prices go down. Then they go up again and the subsequent peak is always higher than the previous peak. 

If you buy something now for, say $1.5 million, the chances are excellent that in 5 -10 years your property will be worth anywhere from 50% to 100% more than it currently is. Just as it was the case that if one bought in, say 2015, the value of their property by 2022 actually was double from when they first bought it. So, what I am saying is, if you buy something today, a few years down the road you will look like an absolute savant to your friends and family. 

So, let’s say you do what I am suggesting, and you now – 5 – 10 years later – have this real estate asset that is worth way more than when you bought it. What do you do then? You utilize the instrument known as ‘1031 exchange’ and you sell that property and buy a new property that is way bigger/better/more than your previous one and makes way more passive income, and…. bonus…. you pay NO capital gains tax in the process. This follows the time honored pattern of the Warren Buffets of the world who got wealthy in real estate. 

OK, there you go. There are finally some good deals out there to be had. Give me a call and I will help you snag one!

Best,

Ken Shapiro,

Silverwood Properties – 818-237-6963