All Forum Posts by: Sharon Carson

good idea! Thank you!

I have a troublesome tenant who most likely will not move out by his 45-day Lease termination notice.  He would be a "holdover" tenant, and I really don't want to do the eviction routine, as my property is currently listed for sale!  I just want him OUT.

If I offer him "Cash for Keys", is there any kind of LEGAL FORM , or contract that I should use to seal the deal ??  Binding?  Is there a protocol for this procedure?

I don't want him finding loopholes, and not move!

Thanks

HARPTA knowledgeable!

I need help to "crunch the numbers" HOW to sell my rental property!

Mahalo in advance!

@Dave Foster Thanks for your reply!

"Your adjusted cost basis is the purchase price of the land plus the cost (not value) of the improvements"  

= this is just it!  My current "cost basis" reflects only the land and infrastructure.  It does NOT include the home, or detached garage as IMPROVEMENTS!

I have considered a 1031 in the past, and I will certainly keep your contact info!

Thank you, Joshua!

Hello!

I bought raw land. I have built a house and a detached garage.

My County Property Tax Assessment shows the correct valuation.

However, the "cost basis" that my HRBlock person tells me is approximately $400,000. LESS than what it should be!

This means that when I go to sell it, I will be paying a ridiculous amount of capital gains!  Unless I can remedy this mistake!

Thanks so much for asking!

While CPA's can cover ALL 50 States, I am looking specifically for one in the State of Hawaii.  There are State-specific rules.

I own a rental property in LAVA ZONE 2.   

It is currently a rental and has been for about 10 years.  (I reside in CA.)  (I am an "accidental" investor!)

I wish to sell this property.

I need advice regarding the tax implications BEFORE I consider selling it.  

1031?   Seller-back finance to my current tenant?   I wish to "crunch these numbers to find my best option!

It is problematic due to it's location, and the fact that my Cost Basis is WAY OFF.  I don't know HOW to fix that!

I need help from a CPA who understands the implications of Lava zone 2!

Mahalo in advance!

 Yes, they will use Vikane.  Mahalo for your feedback!

 Thank you!

I have a rental property on the Big Island of Hawaii.  I manage it myself.

I am in need of tenting the property for termites.  

My tenant is very good, and compliant.  He will need to take care of all his personal items in preparation for tenting.

However, am I obligated to pay for a Post-Fumigation cleanup?????   Or must the tenant just suck it up and deal?

Thanks in advance!!