All Forum Posts by: Lawrence Gillen

A large item to consider... (please discuss this with a tax professional - which I am not),  you will want to take into consideration the timing of your sale, if you decide to sell the Daily City property. Currently, if you meet the requirements, there is a chance that you may not have to pay any capital gains tax. If you decide to rent out the home (therefore, it is no longer your primary residence), you can eventually eliminate yourself from the capital gains tax exclusion. You will need to calculate to find out if the net income from rents will be greater than the amount of taxes you will have to pay when you sell your home. This can be extremely difficult as it requires you to make a wild guess about the future value of the home, and future rents throughout ownership, both of which are moving and unpredictable targets.

My name is Lawrence Gillen. I am a REALTOR®, real estate agent, manufactured/mobile home specialist and real estate investor, residing in San Jose, California. Along with real estate, I also spent many years in the mortgage industry but stepped out of that role completely in 2009.

I carry two California licenses; the Real Estate license and the Manufactured Home Salesperson license.

I look for opportunities to learn, teach, invest and generally help people however I can. Real estate and music are my passions. I look forward to broadening my horizons through networking.