All Forum Posts by: Nisarg Gandhi

Thanks all for all the feedback! I was able to connect with some bigger pockets professionals so hoping to get some answers soon!

Hi All,

My wife and I just began our real estate investing journey and we're pleased to say we just flipped our first home. We know nothing about the taxes side of things and were hoping to connect with a CPA that is also an investor in CA. We understand these would be billable hours but we would love to learn how to manage our money and future flips the best way possible (make the most amount of money!).

Looking forward to any contacts we can make and wish the rest of the BP community best of luck in the up coming year!

Cheers,

Nisarg

@Dave Foster Thanks for that info! Will bring that up to my accountant and see what they say. 

Hi All!

I recently (November 2020) purchased a property in Northern California and the market lifted quite a bit in the 12 months (18%+). Sadly i am having to move cities due to another job opportunity but didn't want to just sell or 1031 as i feel as though the market can go up. 

the rule for exclusion is 2 years of 5 but if i only lived there 1 year and rented it out the second year before selling (and rented another property in the new city) to maintain this one as my primary. Can this be considered an exclusion after i sell it next november to avoid cap gains? 

Hope that made sense!