Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 4 years ago,

User Stats

6
Posts
3
Votes
Jeremy Wehrly
  • Rental Property Investor
  • Vancouver, WA
3
Votes |
6
Posts

Rental Equity Tax Choices to pay off personal property

Jeremy Wehrly
  • Rental Property Investor
  • Vancouver, WA
Posted

Hello everybody, I currently have a SFH rental property in Washington State with about $250K in equity. I am wanting to sell this property to pay off my current personal residence. I understand capital gains tax will be about 15-20%. I understand I could do a 1031 exchange but that requires the proceeds go to another investment property. Is it legal to refinance or pull out a HELOC to get the equity out of the house before I sell it? I was thinking of getting a HELOC and pulling out the money when I get an offer to sell. Are there any other ways to get around paying the capital gains tax or lower the tax burden? Thanks for any offered advice!

V/r

Jeremy

Loading replies...