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All Forum Posts by: Misook Foley

Misook Foley has started 7 posts and replied 17 times.

Post: Quit claim and mortgage liability.

Misook FoleyPosted
  • Investor
  • Lewis Center, OH
  • Posts 18
  • Votes 9

If a couple divorces and there is real estate with a mortgage involved, what is the best way to divide the asset? If a quitclaim deed is used, can the bank release the loan to the other spouse? I know that a "subject-to" (sub-to) arrangement might work, but is there a way to release the other spouse from liability when using sub-to, or is refinancing necessary? Can the bank release one spouse from the loan without refinancing?

Post: Roth IRA Real Estate investment vs traditional investment

Misook FoleyPosted
  • Investor
  • Lewis Center, OH
  • Posts 18
  • Votes 9

Thank you very much!

Post: Roth IRA Real Estate investment vs traditional investment

Misook FoleyPosted
  • Investor
  • Lewis Center, OH
  • Posts 18
  • Votes 9

I am contemplating to buy rental properties with Roth IRA. But when I consider all the tax benefits with traditional acquisitions VS no tax write offs, regulations and rules from Roth hold properties, I am not sure whether holding properties under Roth may be the best idea. If anybody can give me some details of cons and pros, that will help my decision.

Thank you very much!!!

Post: Roth IRA Real Estate investment

Misook FoleyPosted
  • Investor
  • Lewis Center, OH
  • Posts 18
  • Votes 9

Thank you very much!

Post: Roth IRA Real Estate investment

Misook FoleyPosted
  • Investor
  • Lewis Center, OH
  • Posts 18
  • Votes 9

I want to invest Roth IRA in real-estate. I like to find out Roth custodian and possibly non -recourse lender.

Thank you

Post: Duplex 1031 exchange

Misook FoleyPosted
  • Investor
  • Lewis Center, OH
  • Posts 18
  • Votes 9

Thank you!

Post: Duplex 1031 exchange

Misook FoleyPosted
  • Investor
  • Lewis Center, OH
  • Posts 18
  • Votes 9
Quote from @Jeff Nash:

Yes, the word “like-kind” is a bit misleading as it just has to be real property that you are exchanging.  There are criteria that has to be met in order for an exchange to work but assuming it is then you can do an exchange as described. 

Thank you.

Post: Duplex 1031 exchange

Misook FoleyPosted
  • Investor
  • Lewis Center, OH
  • Posts 18
  • Votes 9
Quote from @Jimmy Lieu:
Quote from @Misook Foley:

I want to sell  a duplex. Can I do 1031 exchange to two single homes rather than a  duplex or more unit building?

Thank you

Hi Misook, yes you can 1031 exchange up to multiple properties. I've seen it happen with other investors I've worked with in the past. I'm a local investor and agent here in Columbus Ohio so I'd be happy to answer any questions you have or connect!


 Thank you

Post: Duplex 1031 exchange

Misook FoleyPosted
  • Investor
  • Lewis Center, OH
  • Posts 18
  • Votes 9

Thank you very much for your detailed explanation. Can I buy one single home with higher price or do I have to buy two SFH?

Post: Duplex 1031 exchange

Misook FoleyPosted
  • Investor
  • Lewis Center, OH
  • Posts 18
  • Votes 9

I want to sell  a duplex. Can I do 1031 exchange to two single homes rather than a  duplex or more unit building?

Thank you