All Forum Posts by: Richard Tibbetts

I will be moving out of my 2 bed 1 and a 1/2 Bath apartment in down town Amesbury ma within the next month. Im trying to button up this property before i get a renter in. 

My question is  should i convert one of my rooms to another bed room to attempt and get more rent? (3 bed 1 and a half bath)   I feel like the extra bedroom would equal more rent...  

My girlfriend and mom seem to think i will be ruining the space if i cut it up. Let me know what you think.

Should i leave it a two bedroom?  I did enjoy the space while we lived here.

@Bill Exeter

Since the replacement property is only $330,000 can a portion of the capital gains tax be deferred?

Never complete a 1031 exchange, looking for help near by. (Amesbury MA)

Situation

My 3 family has an accepted offer of $660,000 (pending bank approval)

I paid $380,00 and owe $336,000.

I have 56,000 in depreciation that i have claimed and will need to account for.

The potential replacement property will cost $330,000.

Do i have to invest all of my gains into the new property?

Will i be able to pocket anything in this transaction?

Who is needed to complete the 1031 exchange?

Any help is appreciated, thanks for everyones time.

Looking for a new insurance company for my 3 family investment property in Haverhill MA.

Wondering what insurance other investors are using?

Looking for a tax professional that is familiar with real estate investing. I live in Amesbury, MA and have a total of 5 units in addition to a full time job.  I have been using H&R Block and think it's time for an upgrade.  Looking for recommendations for 2018 tax filing  and continued tax support.   

In need of a Good realtor! North east MA snd south east NH. Hi everyone, im currently trying to sell my mothers house and get her into a multi family. She is on the edge of retirement and house hacking will really help her situation. The trouble we are having is finding a good realtor. We need someone motivated to sell and has some experience with multifamily homes. Any recommendations would be extremely helpful. Thanks for your time