All Forum Posts by: Maria Felix

BP family!

I'm trying to buy my first multi-family home. I live in NYC and have about 170k to invest in. I've been pre-approved for 800K loan. My goal is to build wealth, cash flow.

Where do I start looking for multiple homes in this market we are in now?

Appreciate any advice you have for me.

@Ryan Beatty thank you all

@Brad Hammond thank you for sharing.

BP family -

Hope everyone is doing well. I'm completely confused please help me understand this 1031 exchange.

I have a cash buyer that wants to buy one of my rentals property for 234K that I purchased 10 years ago for 54K. We signed the contract and looking to close on the 7th of July. Now, my questions are:

1-Do I need 1031 exchange to avoid paying the capital gain tax given that I own the property for more than 10yrs? If so, is this before the closing or after?

2- do I let the buyer know now this is a 1031 exchange?

3- where do I begin? Who do I contact? I live in NYC and the property is in Florida.

4- can I use that profits to invest in more than one property?

Any insight that anyone can provide will be extremely appreciated.

Please excuse my grammar English is my second language.

Hi guys, love from Brooklyn. I own a couple homes but i'm not an agent.. hope to become one :)

@Shaun McQuiston cool. Later today I will. Thx again

@Roni Elias will do.

@Nate Monson sounds great. I will check it. Thanks again

@Scott Morongell many thanks

@Greg Dickerson thanks, I’m learning.