Need a RE Tax Strategist & Mentor & Possibly Partners

[Jennifer C.]

Hello Big Pocket People,

My husband and I own a 2-Family property in Brooklyn NY. We have one more year before losing our cap gains exclusion. We moved to Denver for my husband's job two years ago.

The appreciation in Brooklyn has been pretty insane. I'm just gonna say I, rather than we, since I'm the real estate junkie in the family. If I pay taxes on the gain we'll probably clear about 800-900k. If I do a 1031 the money is probably somewhere north of a million.

The house has been earning a strong return as 1/2 Airbnb and 1/2 LTR and we have been depending on the income since I quit my day job and we had to take on tuition for my son's schooling (non-optional I'm afraid). I guess i would just keep going that way if I was sure that I would be able to keep Airbnbing forever. It's currently legal for me, but who knows if they will change the laws.  

I feel like we have some very big decisions to make pretty soon, and I really don't feel like I am informed enough to make them. I am in need of a 1031 Advisor, tax advisor, and I could really use some mentorship. I love real estate (I was an agent in New York) and I could use guidance. I'd love to work with someone who is active in the Denver market. 

Thanks in advance for your advice,

Jennifer C.

[Matt M.]

I used Tracey Wilson at IPX1031 in the past. IIRC he is also a CPA. If you are dependant on the income, why don't you just let it keep rolling?