A Real World 1031 Exchange - Part 5: Remote Landlording
Tuesday, August 25
A Real World 1031 Exchange 08/15/15Part 5: Remote Landlording.Because my Kansas City broker would become the property manager, we had already discussed several improvements that would be cost-effective in getting good tenants. Among other things, he added a center fence to the duple...
A Real World 1031 Exchange - Part 4: Acquisitions
Monday, August 24
A Real World 1031 Exchange 08/01/15Part 4: Acquisitions.As I said in an earlier post, I had 45 days to identify properties up to double my 1031 amount of $1.2M.I wanted to get my favorites under contract before the deadline.I had four good properties in Kansas Ci...
A Real World 1031 Exchange - Part 3: The Research
Saturday, August 22
A Real World 1031 Exchange 6/30/2014Part 3: The Research.Once my property went into escrow, I enlisted the services of Christina Suter, leader of the Pasadena FIBI (For Investors, By Investors) REI group as my advisor.She helped me form a strategy and analyze deals that...
A Real World 1031 Exchange - Part 2: 1031 Exchange Explained??
Friday, August 21
A Real World 1031 Exchange 6/15/2014Part 2: 1031 Exchange Explained??DISCLAIMER: I am not a tax professional. The following is my interpretation of several podcasts, Web articles, and comic books. If you make decisions based on my skewed view of the world,...
A Real World 1031 Exchange - Part 1: Prologue
Friday, August 21
A Real World 1031 Exchange 6/1/2014Part 1: Prologue:In 2010, my wife went back to work giving us a nice boost in income. After failing to find an appreciably bigger home in our price range, I thought 'How about if we buy a rental property?'.I thought that the more wealthy of my...
Rental Expenses in Schedule E
Thursday, August 06
I have just started using QuickBooks to prep for tax season and to help me analyze my properties. As a non-accountant, I am constantly wondering how I should post transactions to save my CPA time at the end of the year. I have seen several questions in the forums about how to classify specific ...