All Forum Posts by: Rob Saunders

Nice work, take a look at your math and dates though, numbers don't add up and November 2022 is still a few months away.

Just done one with Pierce County; Thornton also out of GH can handle it too. Just heads up all surveyors are stretched thin around here. 

We are in Gig Harbor, have MF & SFR rentals in GH & Tacoma and would be interested in connecting with other GH investors.

Thanks, I will look into them.

Rob

Are you invested in DST's? I'm aware of them but not easy to get a comfortable feeling for them.

Rob

Thanks Dave, I forgot to include that data in my question. In this case our gain was around $235k and we had depreciated the property $40k during our ownership, so looks like we would owe the federal (income not capital gains) tax on the full $135k. Obviously we need to find a home for the $135k!

Thanks,

Rob 

I have been struggling to find out how exactly you get taxed on a partial 1031 exchange. Our scenario is we are selling a property in Washington State for $690k, our net proceeds will be around $635k as we do not have a mortgage. We have found a replacement property for $500k, which will leave us with around $135k left to invest. If we don't end up finding anything what will we be taxed on? The answers I have found range from standard income tax on the $135k to a percentage of the amount we re-invested as a capital gains tax. Looking for clarity!

Thanks in advance,

Rob   

Thanks Eric, I appreciate the response. Personally I have never heard of any such concerns however figured the many knowledgeable people on this site would know better.

Hi,

We have a large duplex (2100+ sqft each unit) in a great in town location surrounded by large SFR. The size of the units isn't really reflected in it's rental value as most renters looking for this kind of sqft want a SFR. We were moving down the path of converting into condos but were advised that there can be challenges securing a loan against a condo when the complex is 4 or less units. Does anyone have any experience regarding this they can share? The building is located in Pierce County, Washington. Thanks in advance. Rob

Hi,

We have a large duplex (2100+ sqft each unit) in a great in town location surrounded by large SFR. The size of the units isn't really reflected in it's rental value as most renters looking for this kind of sqft want a SFR. We were moving down the path of converting into condos but were advised that there can be challenges securing a loan against a condo when the complex is 4 or less units. I haven't ever heard this so wanted to see whether anyone else has any experience they can share. The building is located in Pierce County, Washington. Thanks in advance. Rob