All Forum Posts by: Matthew Lockwood

Here's the scenario:

1) I bought a house 17 years ago in Tx for 45K.  Paid off the note.  Just sold for 90K. 45k capital gains.

2) My wife owes 45k on a house she bought years ago with her ex. He quitclaimed the house to her years ago, before I met her.  She still has the note with their names on it.  He (rightfully so) is demanding that she get his name off the mortgage, as she was supposed to have done years ago.

Can I buy the house from my wife for the 45K, thereby satisfying the 1031 exchange and obviously paying off her house?

My name is not on the title, and I believe since we didnt buy it together, community property rules dont apply.

Hey KC!

I own a few rental properties in and out of KC, and am interested in networking with other investors in KC.

I am becoming interested in apartments, and would love to hear some peoples' experience.

If anyone is up for a regular hang out/brainstorming session in KC, lemme know!

Matt