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.
Real Estate Deal Analysis & Advice
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 over 7 years ago,

User Stats

48
Posts
8
Votes
Lorenzo Smith
  • Investor
  • Kansas City, MO
8
Votes |
48
Posts

I got a problem but a good one to have

Lorenzo Smith
  • Investor
  • Kansas City, MO
Posted
I have an opportunity to hit a home run on a property that I purchased. My option are to to brrrr or to sale. My bank verbally denied me without looking at my credit after reviewing my income statement to determine that my income wAs insufficient thanks to all the awesome tax laws that allows me to write off mileage and depreciation even though my gross came in over 120 something or the fact I own real estate some out right. So tell hell with them I said I figured I can use the liquid anyway so let's sale. Now my problem is are partner Uncle Sam do I want to give uncle Sam all that bread from my hard thought and hustles? NO !! But should I sale and pay up?Will that make me bank worthy in the land of the soft and slow money?Would a 1031 exchange be considered as income for a the bank?

Loading replies...