All Forum Posts by: Daniel Pitner

@Dave Foster was a HUGE help with this. Thanks everyone! 

As the title says, I'm SO confused. I'll get right to the point: 
I'm not sure how much I need to reinvest to do a 1031 and how much of a purchase price I need to purchase at. Everything I read says I have to purchase a property of the same value as the one I'm selling, but other things say it's just the same value of the gains. 

Here are the details: 
I'm going through a divorce and am forced to sell a property that isn't exempt from gains. 

Sale Price: $525k
Purchase Price: $325k
Mortgage Left: $268000
Estimated Gains: 224k
My portion of the gains (after 50/50 split with wife): $112,000

Questions
-Do I have to purchase a home of $525k with my $112k or simply a home of $112k or higher? 

I own a piece of land. Here are the numbers: 

Appraised Value: $250,000

I Owe: $150,000 

Homes in the immediate area: Selling for $1.3 million 

I would like to figure out how to strike a win-win deal with an investor/ spec home builder where I get my full value of the land (once the project is done) and a small percentage of the overall project profit.  ( I don't want to just make my money on the land-- I can do that myself by selling it) 

What joint venture terms/structures would work for something like this? 

I would love to do it on my own but I simply can't afford it. 

I love it! Thank you Matthew! 

This is an interesting concept! I like it a lot. 

Any idea on where to find a builder like that? 

I own a piece of land that is worth $245,000 and is in a VERY desirable part of the city. It is the last buildable lot in the middle of 1.4 million dollar homes. 

I would LOVE to develop this land myself and sell a house, I simply don't have the capital. 

My strategy right now is to sell the land to a real estate developer to develop the home at a steep discount ($150,000) but make a claim on the stake of the overall project to get my remaining money back, plus the profit of the build. 

Is this feasible? Or are there any other "creative" strategies somebody can think of for this? 

I'm in need of additional funds to pay off lawyer fees and my wife's interest in other properties. 

Doing it this way will allow me to qualify for one of my other rental properties and assume the mortgage at the existing 3% (DTI issue)

I'm in a divorce and thinking through ALL the creative financing strategies. 

Is it possible to sell 1/2 my interest in a PRIME piece of land that I own with HUGE upward potential? 

Essentially my idea would be to sell 1/2 my interest, pay off the existing loan, and be "partners" with this person as long as there is a defined exit strategy. 

Here are the numbers: 
Owed: $75,000

Appraised Value: $245,000 

Home Comps in the area: $1.5 Million 

I assume we would need to take title as tenants in common with 50/50 ownership? 

What am I missing here? 

Thank you, Henry! 

My intention to using Hard Money was to pay off my lawyer fees so that I have the DTI to qualify for the houses I am keeping.

My thought that is if I take out a traditional loan it still hits my DTI where as hard money wouldn't.
Maybe I'm misunderstanding how the process works? 

Thank you, Henry! 

These specific loans allow me to assume/get her off the deed and the loan without a refinance (it's an amazing loan through Mountain America Credit Union) 

The CG is calculated into the appraised value.