All Forum Posts by: Kevin S.

@Dominic Barese

You are new, didn't know the rules and no need to apologize.  It wasn't the best choice of words by one responder to your post, most likely unintentional.  Follow the rest of the responses. Good luck.

@Jackson Hanssen

Thanks for answering my question that Melanie hasn't. I am still early in my journey of REI and wanted to buy property with end in mind. Buying one-for-one equal to or more than selling property sale price limit the choices. Just needed some clarification. I'll keep you and Sean in mind when time comes. Thanks again.

@Melanie Baldridge

Thank you. My second question was- Does it have to be one-for-one property or can it be one-for-two properties totaling 2M and more? Sometimes there is a quadplex and a SFH on one lot or 2 properties on 2 adjacent lots on sale.

@Melanie Baldridge

What is the tax implication if I swap one property for another that is valued at lesser amount.  Say sell property for 2M and buy another (within the required time frame) for 1.5M?

Does the swap has to be one for one property?  Can I sell one property for 2M and buy 2 properties for 1M each?

@V.G Jason

Your response is right on the money except the first sentence for which I beg to differ.  Travis was just calling out the OP.  Posting about it vs calling out the post are not the same, IMO.  I respect the fact that you at least admit you are guilty of it but some people are just repeat offender(of the same subject).  Having said that, the original author of the post do contribute a lot to answers on BP and I wouldn't take that away from him. 

@Jeff S.

Thank you, Jeff.  It is really confusing with so many differing opinions.  Hard to conclude which is the right one :(

@Jonathan Bock

I have to agree with you to some extent.  One of my son accompanied us to the financial planning session and he asked us several questions afterwards such as "Are each property going to be co-owned? Do each one own separate property individually? What if both like the same property? How do you divide the based on value if each get different property? and so on....I haven't reached there yet but will in time.  So yes, you have a point!  

@Jonathan Bock

Kids are still young to make that determination.  Nobody ever asked that question nor did that occur to me.  You are making me want to pose the next question here on BP...Why is it so much more difficult in reality??  I'll reach out to you if I decide for a second opinion.  Thanks.

@Kaden Nguyen

Thanks Kaden.  I'll reach out to you via DM later.

@Jonathan Bock

Thanks for your response.  The CFP told me 'as long as our Will mention them as beneficiaries and have Umbrella policy.'  He just completed my overall financial planning.