All Forum Posts by: Gloria C.

Thanks you Ashish. Most likely I’ll do the 1033-well see. Thanks for clarifying.   

Thanks Dave.  So if I’m understanding what I’m reading on 1033’s - house has mortgage of $350k and insurance policy is for $750k- leaving proceeds of $400k.  Do I need to RE- invest $750k in worth of real estate) or just the $400k of proceeds in real estate?  Thank you.  G

Thank you Dave.  So I can accept the proceeds from the two party check insurance will send without penalty of “tax on boot”?   thanks again Gloria 

If the insurance company sends me a two party check can I accept the excess funds without penalty? Also is time to reinvest 2 years?  Thanks so much!  

I know there's someone who is an expert here on this subject.  I have a property that burned down and may consider doing an exchange (if needed) with cash leftover from paying off mortgage.

Can someone send contact info?

Thanks

Gloria Vega

I had an investment property that burned down recently.  I should have approximately $400K after mortgage is paid off.  Does anyone know if this is considered "free money"? or if I can do a 1031/1033 exchange?  Are rules for 1033 same or different from 1031?

Thanks for any advise.....

Gloria Vega

What is the going rice for new roof for 1500 sq feet house in Montgomery? 

Thanks James! Maybe I can take it as a loss on taxes? Worth a shot. 

A section 8 tenant caused water damage to the tune of $3,000. I offered a payment schedule but not complying with that even though the fault was the tenants. Do I have any other options to collect for this? 

Sorry not listed…rented.