All Forum Posts by: James Bradley

Quote from @Michael Smythe:

@James Bradley great initiative!

Recommend you disclose if you're a licensed agent or not and then be CAREFUL what you do, so you don't get yourself in trouble.

DM us if you'd like to chat about more ideas:)

 Thanks for looking out! I am not a licensed agent and do not assist in any real estate transactions outside of my personal opinion on home and or neighborhood conditions, but am an operating entity and carry appropriate insurance for light home repair! I provide an on the ground, local resource to investors to provide handyman and tenant relation services, as well as access to a network of local contractors.

Hey everyone

I work with remote investors to manage and maintain properties in Genesee County(Flint)

I oversee tenant turnover, large maintenance projects and perform small maintenance and handyman jobs myself for an out of state investor who owns 11 properties here. I assist in evaluating potential properties by giving an in-person perspective of property and neighborhood conditions and pride myself in fast property turnover to reduce vacancy time while also maintaining strong relationships with tenants to resolve issues in inhabited units fast. I have a strong network of contractors in the area, including roofing, plumbing and electrical. 
I live in nearby Swartz Creek and service properties all throughout the city.

If you already own property here or are interested in investing in Genesee county for the incredible cash flow, lets connect!

James Bradley

810-813-5043

[email protected]

Quote from @Joshua Thompson:

You most likely will not have a tax obligation but without knowing your full tax situation we won't be able to say that with 100% certainty. In an ideal world, you'll report the sale of the home on your personal tax return and qualify for the exclusion. At the end of the day, if it all works out, there will be no additional income shown on your tax return, you'll only be reporting the transaction for informational purposes and to prevent a notice.

Hey Joshua

Thanks for the reply! I have a single, average income if that matters at all. 

Would the best bet be for me to just park a chunk of that money in a high yield savings account until tax time? I am planning on purchasing my next home this fall. 

Quote from @Account Closed:

Quote from @James Bradley:

Hi all!

I am under contract on the sale of my first home, I have owned the house for 10 years in Oakland County, MI. 

I HAVE lived in the home for 2 of the last 5 years and the reason for sale is my recent divorce. Here are some details;

Purchased: 131k in 2014 

Occupied the home until a little over 1 year ago, my ex currently lives there. Refinanced in 2017 roughly to drop PMI, lower interest rate and add my then wife to the mortgage.

Selling for 287k in August of 2024

I know that I won't have to pay capital gains tax on the profits- my question is the profit from the sale still treated like income and taxed accordingly? Or do I have literally NO tax obligation from the sale?

Thank you in advance!

James

 Hey James, 

Does your ex pass the ownership and use test(2 of the last 5 years owned and lived in the property)? She might also qualify for the 121 exclusion 

Thanks for the reply Zachary 

Both my ex and myself have occupied the home for 2 of the last 5 years. She was added onto the mortgage 6-7 years ago when we refinanced.

Quote from @Ben Trageser:

Was this property ever rented or just always used for personal use? Based on only the facts and circumstances listed above and if it meets the 2 out of 5 year test, it will be considered under the $250,000 income threshold and non-taxable. The rest of the funds received will be considered a return on your cost basis and non-taxable as well.

Thanks for the response Ben 

The house was never used as a rental, it was owner occupied by myself for the duration of the mortgage.

Hi all!

I am under contract on the sale of my first home, I have owned the house for 10 years in Oakland County, MI. 

I HAVE lived in the home for 2 of the last 5 years and the reason for sale is my recent divorce. Here are some details;

Purchased: 131k in 2014 

Occupied the home until a little over 1 year ago, my ex currently lives there. Refinanced in 2017 roughly to drop PMI, lower interest rate and add my then wife to the mortgage.

Selling for 287k in August of 2024

I know that I won't have to pay capital gains tax on the profits- my question is the profit from the sale still treated like income and taxed accordingly? Or do I have literally NO tax obligation from the sale?

Thank you in advance!

James

Hey guys

I Live and work around Flint, Michigan. If any non- local investors are interested in the Flint area and want to connect, I can give a local, unbiased opinion of the area. New economic activity, where and where not to buy, cash flow opportunities based on REAL local rents. 

I am active in the RE community in Flint and can scout prospective properties, do video walk-throughs, neighborhood evaluations, on site project supervision/updates- pretty much anything for a set price that can normally be paid after the fact. 

Reach out and lets talk!

Have a great day

James 

Hello all

My name is James, and I live in Flint, Michigan. I work a full time job and help local investors collect information and with cost analysis on the side. I have open afternoon and evenings and am testing the waters here to see if any out of town/state investors need the help of a local person.

Driving by, taking photos and notes of specific properties, checking in on homes/ projects, collecting information on neighborhoods and communities around Flint and Genessee County. I can do it all and more for a reasonable, often after the fact, fee.

I live and work here and know the area well, I am making my first steps towards investing in real estate myself here this year.

In the meantime, I am hoping to connect with other investors and help out-of-towners if possible!

Please feel free to message me here to talk! 

Thank you!

Hello all

My name is James, and I live in Flint, Michigan. I work a full time job and help local investors collect information and with cost analysis on the side. I have open afternoon and evenings and am testing the waters here to see if any out of town/state investors need the help of a local person.

Driving by, taking photos and notes of specific properties, checking in on homes/ projects, collecting information on neighborhoods and communities around Flint and Genessee County. I can do it all and more for a reasonable, often after the fact, fee. 

I live and work here and know the area well, I am making my first steps towards investing in real estate myself here this year. 

In the meantime, I am hoping to connect with other investors and help out-of-towners if possible! 

Please feel free to message me here for details and contact information! 

Thank you! 

Quote from @Penny Brown:

I'm insterested...do we have to send you the address to the properties we want you to view?  Or do you already have a list available?

 I do not have a lost of my own, you would need to provide a ln address and I can go from there depending on what you would like. Message me if you would like to discuss further!