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All Forum Posts by: Kevin Lewis

Kevin Lewis has started 3 posts and replied 5 times.

Post: Really need help buying my first house!!

Kevin LewisPosted
  • CEO
  • Trenton, NJ
  • Posts 5
  • Votes 0

@Steve Vaughan, thank you for the response!

Post: Really need help buying my first house!!

Kevin LewisPosted
  • CEO
  • Trenton, NJ
  • Posts 5
  • Votes 0

Scott, thank you for your response and the link.

Post: Avoiding capital gains tax

Kevin LewisPosted
  • CEO
  • Trenton, NJ
  • Posts 5
  • Votes 0

I took out some equity on one of my investment properties in 2015 and I am going to use it to put a down payment on another investment property in 2016. Can I do a 1031 exchange for this transaction and, if so, do I still have to pay capital gains tax on the equity from the 1st property? 

Post: Avoiding capital gains tax

Kevin LewisPosted
  • CEO
  • Trenton, NJ
  • Posts 5
  • Votes 0

I took out some equity on one of my investment properties in 2015 and I am buying another investment property in 2016. Can I do a 1031 exchange for this transaction and, if so, can I defer the capital gains tax?

Post: Really need help buying my first house!!

Kevin LewisPosted
  • CEO
  • Trenton, NJ
  • Posts 5
  • Votes 0

I am buying my first home in the next few months. I will live in this house and use one of the rooms to run my business. I have a registered LLC. Should I purchase that house in my name or in my business name? I am really looking to find out what are the advantages and disadvantages of both options.

Also, I do intend to buy rental properties in the same area that I will be living (Columbia, MD) in the next year. Will that have any bearing on which of those two options I choose?