All Forum Posts by: Dave Limbocker

OK gotcha, One of my partners had said that was a part of the 1031 rules but being an inquisitive lad I had to confirm.

Thanks to the respondents!

I meant put only 90%....

Thanks Wayne, so if you did not put 90% of net proceeds into the new property, they consider that 10% a gain and it becomes taxable ?

Two rules as I understand it are in order to defer all taxes in a 1031, newly purchased property must be equal or greater in value of the net sales price of relinquished property and carry the same leverage (loan) of the relinquished property.  

Do all proceeds have to move to new property regardless of actual capital gain?  For example we have done capital improvement to the property, can we get that $ back in the exchange?

Thanks Steve I appreciate it.

Chad, I have met you before some 3 years or so ago.  I helped another contractor on a complex of yours on Leigh ave.

Anyway, in this 4plex there are 2 staircases leading to the 2 upstairs units.  We would like to get rid of one and capture that space for living area.  I am assuming we can eliminate one staircase (egress?)

Hey BPer's, I have a 4 plex that I'm going to rehab and need recommendations for Architects/Designers in the San Jose area (investor friendly).

Any help here is appreciated.

Cheers