All Forum Posts by: Bryant Harvey

They do both @Todd Keith.

Clemmons Properties. They have been great for me.

Located in Hartford City, Indiana. It is one hour north of Indianapolis and one hour south of Fort Wayne. When I bought the property in 2001, the large house had an apartment on the upper floor and the lower floor. I converted it into a large single family residence. It can be easily be converted back into a duplex giving you three units on the property renting for approximately $450, $320, and $220. The current rents on the two units have been the same for about ten years. Insurance is $454.17 per year. Taxes are $1024.98 per year. There are three electric meters and one water meter. Tenets pay all utilities.

@Kurt A.; @Luke Megna; @Scott Vance; @Daniel Dietz Thanks for your help with my capital gain question. I replied to you all, but I just now figured out that I needed to get your names highlighted to make a personal reference to your post. 

@Natalie Kolodij Thanks for the great information. No, I have not lived in either house. Yes, I do plan on purchasing other real estate with the proceeds. Yes, lots of major improvements. It looks like the 1031 exchange is the way to go. @Dave Foster Thanks also for the help. I did not know you could do a partial 1031 exchange. That will be of great use.

@Daniel Dietz Okay...those are some nice details to know. Thanks.

Thanks @Luke Megna It is all starting to make sense. 

Thanks @Kurt Angstadt and @Scott Vance. So if we make in the $50,000 - $70,000 range, we shouldn't have to pay any capital gain tax?

We are looking to sell a couple single family homes in Indiana. We have held them for 8-10 years. Is it better to sell them in different years to save on the capital gain tax? I've heard that if you sell them both in the same year that you pay 3.5% for your first house then your second house jumps up to 10%. I tried to look it up and it also seems that the capital gain tax percentage is also based upon your personal tax bracket.