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All Forum Posts by: Christina Galdieri

Christina Galdieri has started 12 posts and replied 34 times.

Post: Capital gains start

Christina Galdieri
Pro Member
Posted
  • Posts 34
  • Votes 7
Quote from @Christina Galdieri:
Quote from @Account Closed:

Hey @Christina Galdieri

I am a bit confused on your question but in general: 

If your asset is sold after 12 months from buying it, those gains are considered long term capital gains and taxed at a reduced rate. 

If you mean two year rule as in the section 121 exclusion, you need to LIVE in the home as your primary residence for 24 months of the past 5 years from the date of sale. 

I will live in it for 2 years but my question is when does that 2 years start- when the house is put on the property and I move in or does it start when I purchased the land? I’m assuming it’s after I move in. It’s almost a 2 year difference from the time I bought the land to the time when I’ll be able to move in. If I can sell it right away that is great but if it’s from the time I move into the home I have another 2 years to go and that will change my investment strategy entirely. 

Yes you are right I want to avoid the capital gains with the section 121 exclusion. 😃

Post: Capital gains start

Christina Galdieri
Pro Member
Posted
  • Posts 34
  • Votes 7
Quote from @Account Closed:

Hey @Christina Galdieri

I am a bit confused on your question but in general: 

If your asset is sold after 12 months from buying it, those gains are considered long term capital gains and taxed at a reduced rate. 

If you mean two year rule as in the section 121 exclusion, you need to LIVE in the home as your primary residence for 24 months of the past 5 years from the date of sale. 

I will live in it for 2 years but my question is when does that 2 years start- when the house is put on the property and I move in or does it start when I purchased the land? I’m assuming it’s after I move in. It’s almost a 2 year difference from the time I bought the land to the time when I’ll be able to move in. If I can sell it right away that is great but if it’s from the time I move into the home I have another 2 years to go and that will change my investment strategy entirely. 

Post: Capital gains start

Christina Galdieri
Pro Member
Posted
  • Posts 34
  • Votes 7

Question about capital gains. I purchased a lot in August of 2022. We put well, electric and septic on it in 2023 and now in 2024 we are putting a manufactured home on it. This will be my primary residence but I may want to move in a couple years as I would like more acreage. When would the 2 year rule commence? At the time the C/O is given to live in the mobile home? Thanks! 

Post: Looking for a Cash out Refi on an investment property

Christina Galdieri
Pro Member
Posted
  • Posts 34
  • Votes 7
Quote from @Alex Hunt:

Seasoning will be the hurdle for some lenders on this one. Did you put any renovation into the property? Happy to look at this one, love the FL market!

We are currently renovating will be done by April. 

Post: Looking for a Cash out Refi on an investment property

Christina Galdieri
Pro Member
Posted
  • Posts 34
  • Votes 7
Quote from @Jacob Sherman:

Yes there are options upto 80% cashout with no seasoning as long as it is rented and cash flowing even or better . no income no doc . What is the scenario looking like? 

We are almost done rehab and should be easy to rent in April. 

Post: Newbies: investing is not rocket science - don't let the gurus tell you otherwise

Christina Galdieri
Pro Member
Posted
  • Posts 34
  • Votes 7

Hi Marcus- can you elaborate a bit more on what you mean by separating your equity investment from cash flow investment. Thanks! 

Post: Asset Protection Attorney North Florida?

Christina Galdieri
Pro Member
Posted
  • Posts 34
  • Votes 7

Hello! 

Can anyone recommend an Asset Protection Attorney in North Florida? TIA

Post: BRRRR Mobile home?

Christina Galdieri
Pro Member
Posted
  • Posts 34
  • Votes 7

I've been looking into this too since the area I am in is 50 or more 50% MHs. The only thing I ran into is getting insurance on it depending on age and condition. Look into that before you make any purchase. 

Post: Question about the BRRRR Method

Christina Galdieri
Pro Member
Posted
  • Posts 34
  • Votes 7

Thanks everyone! 

Post: I can’t find a house!!

Christina Galdieri
Pro Member
Posted
  • Posts 34
  • Votes 7

Its the market we are in. I put in about 10 offers and now finally had one accepted. Its discouraging for sure, you just have to keep going at it.