All Forum Posts by: Prashant Sheth

@Jackson Howell another thing to consider is short term cap gains in taxes. It may be a good idea to hold for a year by renting. Then selling it so you can 1032 exchange it for your next property thereby avoiding cap gains altogether?

Thanks Andrew, yes. I'm looking at changing the note.  Your explanation helps. A lot.  Would love to connect. Thanks!

@Ricardo Flores I had my loan w Wells Fargo. And when my equity got to well above 20% they cleared the PMI automatically. Just ask. It works

@Ashish Acharya. Thanks Ashish, are you able to help w a LOC?

I have a small portfolio and am coming out of a bad health situation. Part of the impact is my credit was shot and I am rebuilding it. Refinancing seems almost impossible and I'm getting really high rates and only ably 65% LTV options w a 670 score Is there a workable option that can let me access my equity in a way that allows me to grow my business? Thanks for your attention and caring!

@Michael Facchini would love to connect with you for some advice

@Andrew Postell thanks for the detailed reply. That's helpful So we bought the property less than 1 year ago if I get the note to partners name then is it considered a short-term cap gains? We are still both in the LLC and the property is named into the LLC. It is a rental so I'm paying interest and making rent about break even right now. Thanks

I have a partner in an LLC that owns my property. The mortgage note is in my name

What are the implications of refinancing the property in the partners name? Is that same as sale? What are the tax implications? And how does this show in the LLC/personal tax? Thanks for your response In advance