All Forum Posts by: Chris McCormack

Happy to talk through tax implications - you'll be looking a different situation compared to othe rinvestors.

You open up a window of opportunity for tax strategy. Assuming you have passive losses from your properties, you can recharacterize some income from your property management company to offset the losses. Happy to discuss

Going to reiterate @Andrew Postell, cash out refi is a tax free transaction. Seller financing brings taxes into the equation. You'll pay a tax on the portion of the income attributable to the gain (sale price - basis / sale price)

From a tax perspective, 30 day rentals wont qualify as STR. You eliminate the STR loophole which allows adjusted material participation qualifications

 Well said - it helps to consider taxes as well. Capital gains on investments and ordinary income on withdrawals. Insurance is tax free growth. Nothing is one size fits all but nothing is as bad as some make it out to seem.

Understand there are many tax planning opportunities that can mitigate recapture and deferment. Make sure you get tax planning with your CPA

What makes you want to flip over rent? From a tax perspective you carry all costs on your balance sheet until sale. Be sure to work with a CPA to maximize your returns 

@Steve Bell happy to connect

What did you repair? Different useful lives for different categories - could be accelerated

Sent you a request - happy to connect