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Fifteen minutes away from the latest report on existing home sales very important number in the housing market so -- pose this question.
Is this a good time to -- a realistic any kind of real estate joining us now is Richard -- He is a commercial real estate investor and by the -- he -- novels.
His latest is called the thieves of legend will get into that in the second Richard I think I'm -- your name.
It's Deutsche but you know we spoke a little different -- Kim Berry Vanessa for -- -- no apologies no apology right.
You are of commercial real estate investment you run a company that does just that yes and you telling me that you -- buying now big time.
You know it's interest thing everyone always looks at the problems in all of this fiscal cliff all these dangers.
-- profiting chaos -- that old phrase the women you'll profit in this particular kind of you know eighteen months ago we started to look at.
What was gonna happen that the bush tax cuts would be expiring.
And we said you know capital gains are gonna eventually go up and right now it's -- up about 9%.
Come January 1.
You have a lot of people that wanna get out they've been invested for a long time so you've got people in the commercial real estate -- -- -- a property.
And they see the end of the year approaching -- know that if they sell and take -- profit this year.
They pay a -- look capital gains tax right now wrong that's correct you being devolved to that you law just who they had little -- full of money to buy -- a good low low price before the end of the year correct precisely you know it's.
You've always got to be prepared for what -- calls these dark days but over thirty years all of my profitable and always made when.
You know things are turning that so you'll sit back -- that you'll -- now.
Decent price you'll -- you won't touch this thing you won't take any money out of it in terms of profit.
You put money back into the property correct and hold until win right.
All of fashion.
Let's go to the next election cut cut cut cut -- turns out so you think that ultimately they could be a reduction in the capital gains tax you know eventually I think -- -- you know I always look at real estate as long term whole I don't speculate.
And a whole -- 5101520.
Years what kind of commercial problem of not having no common all part of -- -- that's that's been what I've known since 1982 work very well.
All over known all over Texas Florida.
New York -- you know wherever I can the last word on the book.
The thieves of legend is that -- -- title that's correct phase of -- what's the real estate -- doing watching real novels you know.
Look at the real estate business it's a thriller in itself we're selling this is illustrated in question what do you make the most money real estate investing -- signal.
Photo at no guidebooks tell me real realistic real -- a long way real estate.
Pretty much so you folks have not been selling very well tolerated they've been doing very well.
But -- -- he's seen the publishing industry's been going this so are also going to movies and those kind of make up they have the shortfall a -- -- uniting -- you Volta and and I'm insinuating you know selling many books on the -- and all right all right wrong -- -- -- nothing wrong with that -- your pleasure being with thanks so much you appreciate very much 940.
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