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Updated over 9 years ago on . Most recent reply

Donald Latson's profile image
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Donald Latson
  • from Newark, New Jersey
  • Member since Jun 19, 2015
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Donald Latson's profile image
Donald Latson's profile image
Donald Latson
  • from Newark, New Jersey
  • Member since Jun 19, 2015
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Donald Latson
  • Newark, NJ
14
Votes |
141
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Starting Out

YOU

Donald Latson
  • Newark, NJ
Posted

Can you describe some of the mistakes you made at the beginning of your real estate investing career?

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Account Closed's profile image
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Account Closed
  • Investor
  • from Mount Pleasant, South Carolina
  • Member since Mar 12, 2015
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Account Closed's profile image
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Account Closed
  • Investor
  • from Mount Pleasant, South Carolina
  • Member since Mar 12, 2015
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Account Closed
  • Investor
  • Mount Pleasant, SC
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Account Closed
  • Investor
  • Mount Pleasant, SC
Replied

Feeling like I had to use ALL of the funds when doing a 10-31 Exchange.  It would have been better to pay the taxes on the remaining funds after making a purchase.  In trying to avoid paying any taxes, I purchased a second property just to use the money.  It ended up costing me more than just paying the capital gains taxes on the remaining funds.

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