All Forum Posts by: Lindsey Clark

Thank you for your replies. This was very helpful. I was preparing to have to do a 1031 exchange to avoid taxes for the moment. I’m glad that won’t be necessary.

Hi BP experts. Hoping to get some answers on a slightly complicated issue. I have asked a couple of accountants this question but they are not real estate specialists so I want to see what kind of  answers I get here.

I am in the process of selling my investment property. It is an inherited property with no mortgage so I will be making quite a bit of profit from it. I lived in the home for 2 of the last 5 years. As I understand this would allow me to be exempt for the first $500,000 profit as a married couple. However, about 6 months ago I transferred the title into an LLC with myself as the sole manager. So the property was in my name and is now in the LLC owned by me. Does the 2/5 rule still apply? Or did transferring the property to the LLC start the clock over?

Thanks for the feedback. 

I am ready to buy a property but I can't seem to find one. When I tell realtors I am looking for at least 10% ROI they send me properties above price range or can't find any properties matching that description. I'm starting to wonder if I am being unrealistic in this market or not analyzing the properties properly. I have the cash to buy and the motivation but not finding a property is holding me back. Any tips on finding a property or a good market to find them in are welcome :).