All Forum Posts by: Alex Corral

Man, every time I read one of these posts, I have to thank the people on BiggerPockets! In December, I had a call with James from MI. Sent me a few deals, but luckily I'm a researcher & quickly found the truth on MI. Cancelled all communication with them & never looked back. Really hope the people involved with MI can get out of these terrible deals.

Hard money Lender.

Kevin L. Thanks for posting this. I'm new to rentals (have 5 doors so far), and would love to learn how to be more efficient about the whole PM deal. I have a hard time understanding how most PMs aren't inclined to let units go vacant. With the tenant placement fees, and their maintenance side making money on turnovers, I'm just skeptical of trying to keep a tenant for 3+ years. Time will tell, but I'll be following this thread.

Originally posted by @Basit Siddiqi:

@Alex Corral

Does your mom still live in the property? and is she still on the title?
Just trying to see if she can sell the property instead of you and get the 121 exclusion.

 Hi Basit, she does live there anymore & was removed from title on the refinance.

Originally posted by @Senthil Akasham:

@Alex Corral, don't feel bad.  You can still sell the property "now" and defer the capital gains tax for 30 years.  Just do a M453 sale (monetized installment sale) like I did to sell my own rental property here in California.  Let me know if you're interested.

 Thanks Seth! I'll read up on that & let you know if I have any questions.

Ok, thanks for the info. I made a big mistake never adding me on the deed until 2017.

Congrats! Best of luck & keep us posted! I've looked at a few HUBZU properties.

Jon Holdman Thanks for your reply. She (we) bought it in 2005, so pretty close to the bubble. I've been paying the mortgage since 2005. The loan was on an old World Savings loan & was at 2.1%, so we held off on refinancing into my name. That happened January 2017. If I will be hit with capital gains tax, which I assumed, then I will wait another year.

Hey guys, I am thinking of selling my home. It's a particular situation. I have lived in the home for 12 years since it's my moms. Last year, I refinanced and took the house over. Only been on title technically 1 year. The market is crazy in Denver now. If I sell it, I'm assuming I have to pay capital gains tax, correct? Can I 1031 the money into something else out of state? Or will that not work since it's personal to investment?

Mike D'Arrigo thanks! I'd love to chat with you and get your take. I've been studying Indy for a few months now, and I'd greatly appreciate your expertise on the area. I'll send you a PM.