All Forum Posts by: Jocelyn Borg

Thanks @Derek Dombeck, that's great advice! I love it, now I have plenty of options.

Thanks again!

@Edward B. that is awesome, AWESOME advice. I love that approach. I think you're spot on; I know this gentleman is getting older and tired of maintenance. One of the units was recently vacated by a long term tenant and as far as I know he has not made any moves to fill that vacancy. He is ready to sell for sure, we just need to find a way to make it work for both parties. Thank you SO much for that creative insight, I had not thought of that approach at all. Thanks for the brainstorming!!

@Jana Cain a very belated thank you! That is great advice and I will definitely pursue that as an option. 

Any Maryland investors have recommendations for a super savvy tax pro, preferably operating out of the Washington County or Frederick area? Who do you guys use?

TIA!

I've been doing some more research on this, and have found that financing a deal does in fact have capital gains tax benefits for the seller: it allows them to pay them over time vs one lump sum if the property was sold with traditional financing. Is this accurate? 

Also, in my mind the interest I will pay him over time will offset some of the taxes he owes. Am I right, or will he simply end up paying taxes on the interest as well?

Thanks in advance!

@Account Closed : How so? 

Thanks @James C., that's good news about the managing partner stuff - I'll have to look in to that. 

Is there any way a seller can avoid capital gains when they sell off their portfolio like this? This is making me wonder in general - what do older or retiring investors do when they want to get out of the game? Are they just prepared to take the hit? 

Thanks @Cristhian Huamani! 

There's a possibility of Owner Finance on a really great rental property that is near my home and very well kept. The owner is older and getting tired of keeping up with his rentals. I believe he'd be very willing to entertain owner finance on this and possibly more of his properties, but there are two major barriers:

1) He would take a pretty big capital gains hit; the properties were paid in full long ago

2) He has 2 other family members on the deed, and the relationships are not all well

Do any of you have suggestions for how I might overcome these barriers and turn this into a win win situation for the both of us? 

Thanks in advance!

Thanks for the feedback, @Cristhian Huamani, I really appreciate your thorough response! It's super helpful. 

Would you mind sharing what other streets your properties are on and how long you've owned them for? Were they purchased as turnkey properties or did you have to fix them up before you placed tenants in them? Did the one on Mulberry need much work?

Thanks in advance!

At the risk of looking like a complete idiot...I need to clarify: are you guys saying that ANY profit will be taxed now (if not exceeding the 5 out of 8 year time frame)? i.e no more "as long as it's under 250K you won't get hit with the tax?"

per Tayler's question above, will he be taxed on that 68K in profit he's looking at?

Thanks in advance