2020 Election Aftermath on Real Estate and Lending | The Kwak Brothers

2020 Election Aftermath on Real Estate and Lending

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2020 Election Aftermath on Real Estate and Lending

2020 Election Aftermath on Real Estate and Lending In this video, I look over what the aftermath of the 2020 election will look like for either Donald Trump or Joe Biden. Joe Biden has been very open about his tax policies. He is looking to raise the corporate tax and get rid of a lot of tax benefits in the real estate investing world. I can say that Joe Biden’s tax plan, does not look good for business owners. Joe Biden wants to get rid of the step-up basis which would cause a tax on people inheriting property. Currently, there is no tax on inheriting a real estate property. Secondly, Joe Biden would want to do away with 1031 exchanges, which would cause a lot of real estate investors to be taxed on several investments. The issues that Donald Trump would have to deal with the fallout of the pandemic. What will Donald Trump do to recover from the economic issues that the lockdowns have caused? The 2020 election has been a rollercoaster. Now that we are 1 day away from the presidential election 2020, what will the aftermath be if either candidate wins? How much will the taxes be raised under Joe Biden for business owners and real estate investors? How will Donald Trump handle the fallout of the pandemic and get our economy back on track on top of dealing with the expiring eviction moratorium? Time will only tell but what I can tell you is that if Joe Biden is elected, it does not look good for people who are business owners and real estate investors. Joe Biden is looking to get rid of a lot of different programs that currently benefit real estate investors. Joe Biden’s tax plan would also raise corporate taxes. With the abolishment of the 1031 exchange and the step-up basis for selling inherited property, will that deter people from becoming real estate investors? Joe Biden’s tax plan may look good to those people who work a regular 9-5 job and I am not saying that I want the W2 workers in the country to not benefit from his tax plans, I am just curious to what the ramifications of Joe Biden’s tax policies. Will it hurt the housing market and the economy? Will there be affordable housing for those W2 workers that are provided by real estate investors? On the flip side, we have already seen what Donald Trump’s tax policies have done for the past 4 years, but he has a whole other set of problems to deal with. Like getting the economy kickstarted, but how can Donald Trump do that safely? This is an issue that both presidential candidates will have to deal with, but it’s more of an uphill battle for Donald Trump because he is actively pushing to get the economy going again and coming up with a solution for the housing crisis for both tenants and landlords. It should be an interesting few days with the election tomorrow. Stick around for more updates and thanks for watching!

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