All Forum Posts by: Jules H

I have a property in San Jose, California that I'm planning on selling next year.   It needs some foundation work (approx $80k-$100k).   Should I get the work done before listing and sell for top $$ or list at a discount price for buyer to do the work themselves.   The property is a 2.5k sqft 4 bed, 3.5 bath on 1/2 acre,  comps indicate $1.45m.    

I don't need a construction loan,  its a not a brand new build.   The house is already built, but it is new.

I'm going to sell one of my rental properties in San Jose, CA and planning to do a 1031 exchange also in CA.       I will be renting the property,  so it will be like-kind property.   I read somewhere that the property I buy cannot be a brand new property, is this true?

Thanks Bill Exeter,  you confirmed that it is possible to trade down in value.    I've owned the property for  15yrs,  so not a short term investment,  does that matter in what the taxable rate would be?

Thanks Mike Heth,  my husband had the same idea too,  but then we would have to rent our current residence and downsize considerably,  so I'm not to excited about that.

I have an investment property which I'm thinking of selling, its worth approx $900k,  I paid $480k, and owe approx $300k.    I was thinking of doing a 1031 exchange,  but confused whether I need to buy another $900k property to qualify or I can buy a property at $600k instead.   I heard that it should be same or greater value and you need to have a greater mortgage,  but also heard that you can do the exchange and pay taxes on the difference.      

I have a rental property on a 15 yr mortgage with only 5 yrs left. Should I refi and take money out to buy another property or pay off the mortgage as soon as possible. Rate is 5.25%, mortgage is $1800 pm, it rents for $2500 pm. We are in our 40's, live in CA and have 4 rental properties. I'm torn between piece of mind having a house paid off, and the advantages of buying another property while the market is down.