All Forum Posts by: Vernon Henry

Could you please explain about the 5 year hold requirement?

Yes, dal1, you're absolutely right. It's like a catch 22. As I mentioned, we're just a little over breakeven and we're already at the max rent the area will support. I've made money on the place, but can't get to it without giving up a healthy chunk of it. :badwords:

I'm a newbie who bought my first property a little over 2 years ago. Bad news is, as far as cash flow, it's a little above breakeven. Good news, due to the real estate boom, I could probably realize about $120k gain after closing costs if I sold at a price of comparible properties.

Question: I desperately want to sell, but would like to avoid the capital gains hit. So a 1031 would be the way to go. Trouble is, currently it seems very hard to find anything that will yield a positive cash flow here in So. California.

I've even looked into TIC's and REITs and Charitable Trusts but those things are a bit esoteric for me. Any suggestions would be appreciated.
:help:

I'm a new member to this forum and a newbie REI. I need all the advice and networking I can get, so count me in!