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All Forum Posts by: Jesse McGuiness

Jesse McGuiness has started 3 posts and replied 4 times.

Hi, Bigger Pocket Members,

My name is Jesse and I live in San Jose.I am a semi-retired business owner, and my wife is a retired school principal. We have been interested in investing in real-estate for a long time, but need help getting started.I joined Bigger Pockets seven years ago.I think the site is very helpful. My wife and I have owned our home in San Jose since 1990, and we own a rental property in Vallejo. We recently refinance the mortgage on our primary home and pulled out $100K to invest. We would like to flip property in Santa Clara County, but because of the high –priced market, we are unable to get started with just $100K. We think we can do better partnering with other like-minded investors. We have attended several San Jose REIA meetings that we found were very educational.However, we have not been able to find other investors who we can invest with.We would like to join or start an investment group in San Jose. We welcome your input.

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Post: Capital Gains Tax, 1031 Exchange

Jesse McGuinessPosted
  • Homeowner
  • San Jose, CA
  • Posts 4
  • Votes 0

I really like Bigger Pockets I usually go to the site for answers.

We recently sold our first rental property in Las Vegas our plan was to buy a bigger house to lease. We asked the realtor about capital gains tax he said we would not have pay since we owned the house for more than two years. After the sale our accountant informed us it only applies if you have lived in the property. After we received the funds from the sale we found out about http://firstexchange.com/content/basics-1031-exchanges The information came to late for us but maybe this information can help a new investor.

Jesse