All Forum Posts by: Ben Goodall

Thank you for your reply. So let's say I have an investment property that is worth 220k and I have a HELOC on it for 100k of which I have used 25k already as a down payment on another investment property. I also have a first mortgage of 100k.

I use the remaining 75k as a down payment for a primary residence so now I have maxed the heloc out and owe 100k on it. 

If I 1031 exchange the property with the Heloc on it, the heloc would be paid off and closed during the sale of the property and I would be rolling only the left over equity or in this case 20k into the new property. Assume the new property is also valued at 220k.

Will I have to pay capital gains tax on the 100k, on the 25k (because 25k of the heloc was used to purchase another investment property), or no tax liability?

Thanks.. Ben

I have a HELOC on one of my investment properties. I have used a portion of it to buy another rental property and am contemplating using the rest as a down payment for a primary residence. If next year, I decide to 1031 exchange this rental property into either one or two investment properties (equal or more in value) would the amount used to pay off the HELOC be subject to capital gains tax? If so, any suggestions as to which way to accomplish this and avoid or at least minimize the tax? Thanks in advance for your help!

I would be interested too.  I live out in East County/Santee area.  

Hi all.. I have been trolling these forums for sometime now and have spoken to a couple of professionals which I have made contact with through bigger pockets.  I am extremely grateful for those I have spoken with taking their time to talk to me and in general, what I have gathered here so far.  It has helped me narrow down my 'places of interest' list.  So here goes.. Given I'm a small fish just getting my feet wet, I have eliminated a few areas which I like personally due to the housing demands and costs in those areas.. one of those areas being Nashville.  Here are the other ones I am interested in:

1)  Cleveland or Columbus

3)  Memphis or other parts of Tennessee like possibly Chattanooga

4)  Pittsburgh

5)  I also heard a little about Huntsville and would be interested in learning more

I have also heard that Indy and Kansas City are also areas to consider but I'm wondering whether they are getting too much attention now and I may have missed the boat.  I am looking for Cashflow first and appreciation will be definitely welcome.  I'm sure I'm no different than anyone else in this regard.  

This being said, I'd like to hear from investors and/or agents that can provide me with any insight on not only the areas I mentioned above but any I have missed that I should consider.

I also am looking to travel to one of these areas on November 9th - 12th to familiarize myself better before making a purchase so I need to start booking!

Any advice, constructive feedback and information is much appreciated.

Thanks in advance...Ben

I am a newbie here and had the quick introductory phone convo with the Dingo on Thursday. I am in the middle of a cash out refi and have wired through my deposit so we shall see where it goes from here. I'm a little nervous and excited all at the same time!

Marco Santarelli Hi Marco.. I just filled out your contact form with my information. I would be interested in speaking with you when you get a chance. Thanks