All Forum Posts by: Saar Amit

Hi everyone,

Thank you for your insights. Here’s a summary based on the responses:

1. Tax Rates and Holding Period:
2. • For flips (properties bought, rehabbed, and sold quickly), profits are taxed as ordinary income, not capital gains.
   • The holding period is calculated from the purchase date to the sale date.
3. 1031 Exchange:
   • 1031 exchanges apply only to properties held for investment, not quick flips.
   • If intending to use a 1031 exchange, I must reinvest the proceeds into a like-kind property within 180 days.
   • Holding a property for less than a year may disqualify it from 1031 eligibility due to lack of demonstrated investment intent.

Thanks again for all the helpful advice!

Best, Saar

Hi everyone,

I have a few questions regarding the tax implications of flipping a property in Florida:

1. 1. What are the differences in tax rates if I hold the property for less than one year versus more than one year? Is the holding period calculated from the purchase date to the sale date?
2. 2. For a property flip, how is the duration of ownership calculated? Does it start from the purchase date to the sale date?
3. 3. How does a 1031 exchange work in this scenario? If I flip a house and make a profit after 6 months, then buy a new property 3 months later, what taxes will I be obligated to pay?

Any insights or resources would be greatly appreciated!

Thanks in advance!

Have you got any link for Spain's Q homes? that sounds really interesting, perhaps could work as an ADU. In regards to SteelHomes, you will need your GC or you can use their GC but definitely, there are many jobs that have do without them.

In regards to financing, there is no issue getting financing for a new construction modular project- These are my steps: buying cash, getting a hard money loan for construction, building the homes, getting an appraisal (should be the same valuation as any other property) and finally taking a proper 30 years finance.

thank you all very much, guys. 

I did go to the manufacturer, I met the owner and the manager, and they all seem great. I have to admit that they aren't as responsive as I wish they were, but they are very busy. 

I am still trying to gather all pricing for the additional required work and hopefully, I will build a few homes with SteelHomes. I will keep you all posted. 

 Hi Ember, my company manages 5 stars Boutique vacation rentals in Fort Lauderdale. Feel free to send me a message for more information. You can find us in google under "FoxStays"

I was able to find a few properties thanks to your MLS search.

I am still not comfortable with the selling price of these modular homes therefore I am trying to find more modular home sells in my area.

Thank you, Branden. 

Thank you Joel, this information is precious to me. I am not sure if you are planning on selling your home/ units or if you are going to rent them but I am curious to know if you think that people are willing to pay the same purchase price for modular once completed and installed. 

Also, what is the name of the modular builder you are using?

Thanks

 Thank you so much for your reply Branden, any chance that you might have the address? 

Hello all,

I'm considering purchasing land in Fort Lauderdale to build two modular homes using Steelhomes.us. But I'm unsure about the potential appraisal values. Will these homes be appraised similarly to traditional homes in the area, or could they be lower due to the construction method?

Unfortunately, I haven't been able to find customer feedback or addresses of installed homes. So, I'd appreciate it if anyone could help answer these questions:

1. Is anyone familiar with Steelhomes.us?
2. Could the appraised value of their modular homes be lower than traditional homes in the area?
3. Has anyone had experience building modular homes in Fort Lauderdale?

This is Steelhomes website: www.steelhomes.us 

Thank you in advance for your insights.