All Forum Posts by: Account Closed

Hi everyone, I have a relative that was gifted RE and is now looking at a hefty capital gains liability. 

Could he purchase a new personal residence to live in? I.e., does the property have to be an investment? Or, is the only rule that it has to be in an OZ?

I am still not clear on the dollar-for-dollar improvement. Is this a necessity? Or, are there additional tax benefits if you complete a dollar-for-dollar improvement? Are there any articles someone can suggest to learn more about this aspect?

Does anyone have any attorneys they would recommend for forming a QOZF? I read earlier that it would be a securities attorney? Is this everyone’s experience?

Another question - some resources I’ve read say that cap gains taxes can be eliminated but others say that they technically have to be paid back but not until sometime in mid 2040s I believe. Can anyone clarify this part?

Any resources are much appreciated! I am happy to set appointments with attorneys or any other experts to learn more. 

To all my fellow RE agents out there, how many of you carry general liability insurance? Do you run your practice through an LLC?

I know there isn’t a one-size-fits all answer; just curious to see how others view risk/liability as an agent (not broker). 

I just went to their vendor expo last week, and it was great. They have one the second Thursday of every month I believe

https://lareic.com/

I just went to the LA REIA Vendor Expo last week and it was great! Its in Palms at the Iman Center

Our clients seem to be happy with:

https://engineeredtaxservices.com

https://www.hcvt.com/

RSVP'd for the April one! Excited to meet everyone. Thanks for organizing this, Serena! Would love to put together one on the westside. I'm doing to DM you.

I did that exact same thing! I’m a renter but started with out-of-state investment properties. If i need to in the future, i plan to pull out equity as a down payment. Feel free to DM me if you’d like to chat more!

Im Westside but always happy to network as well! Virtually or in person 🙂 

Hey! Id be happy to jump on a call and chat about it. Sometimes it’s nice to have an outside set of eyes on it. Ill DM you. 

Welcome @DeQwan Thompson! I am a commercial agent here in LA so i work with investors and im an out-of-state investor myself. Im gonna DM you so we can connect 👍