All Forum Posts by: Miguel Jauregui

@Thomas Rutkowski I had never heard of a MIS. Very good insight. Thank you!

I'm new to this game in NNJ, and this is on my way home, so I'll definitely stop by. Thanks!

Very helpful. Thanks!

@Bill Exeter Got it, thank you! So if I provide seller financing, then I need to have funds otherwise (i.e. the $8M) to complete my 1031 since I won't actually be receiving the funds which I provided as a loan.

This goes out to the CPAs/accountants...if I'm selling a property that will realize capital gains, and I decide to provide seller financing, does the IRS recognize the sale for purposes of the 1031 timeline starting at the point that the funds are actually received? Take for example that I sell a property for $10M, receive $2M down payment at closing, provide a X% interest-only loan with a balloon payment 24 months later. Does that mean that to take advantage of a 1031, I would have to identify $2M worth of real estate 45 days after closing, and then won't have to identify the $8M portion until 45 days after the balloon payment is received (let's say 24 month later)? Thanks in advance for the help/clarity!

@John - Can you define what HML is? Thanks in advance.

I would also add that if you're looking in North Bergen, West New York, Weehawken, to look along Bergenline Blvd, JFK Blvd or Park Ave since they offer quick and easy bus transportation to Manhattan. I live in North Bergen and work in Manhattan, so I do the daily commute, and find t very easy and quick.