All Forum Posts by: Michael McInerny

Dave,

You are the man! That's what I needed to hear .

Thank you,

Mike

Thank you all for your insight!

Thank you for the responses. 

What if the property we are buying has avocado producing incoming? Is there a grey area?

Already going into escrow on both rentals all cash offers - I'll clear approx. $250,000. Cost Basis combined $345,000 - Sale combined $480,000 - 

Can I do a Build to Suit Exchange to purchase property? 

Reason - wife is done w/ tract home living - liquidate all  -  buy her dream land and build our home now w/ late research! AGGHH!!

Primary residence slower to sell.

I am selling 2 rental units to purchase unimproved land to be used as my future primary residence. In addition, I currently have my existing primary residence on the market as well. What are my best options to avoid capital gains tax?

A build to suit exchange? My combined proceeds from the 2 rental units would be approx. $250,000+, The land purchase would purchased for $260,000.

Thank you,

Mike