All Forum Posts by: Brandy Smith

If you had $70k in your bank account, how would you invest it right now? Non-real estate

Do you not get taxed on capital gains in Florida if you made under $70k for the year? Is that true?

@Dave Foster That was an extremely detailed and helpful response! Thanks so much. May I ask, what happens if I do a 1031 on this property in Florida, and then I find a new property here in Florida and reinvest and close within the 45 days, and it all goes smoothly...then let’s say I sell this new property and flip that one too and I don’t want to do another 1031 form. Does it then take capital gains tax from both properties?

Hi friends! Florida newbie here again. If I want to sign that “1031 Form” to avoid capital gains tax..how far in advance to the closing do I have to file that? I’m putting on the market in beginning of November when my tenants lease ends. Also, if for some reason I miss the deadline to reinvest? What happens? ..What are some things you’ve done to make sure you close within the deadline? I hope I’m understanding this right, I’m a first timer! :)

@John Farady You’re the best! Thanks

@Nate Morris that’s great, thank you! :)

@Nate Morris okay I can do this too! Thanks

@Owen Dashner thank you! Helpful :)

@Allan Smith You’re right, I’ll do more research on this. Many houses in my area seem to be selling high without being fully renovated.

@Lynnette E. Hello. Why do you feel this way? Any tips to help me?