All Forum Posts by: Tambi Harwood

We just bought a property (the B of BRRRR), Rehabbed it (R), and are renting (R) it. It came to light that it's best to provide window shades or screens in a rental, or the tenant may damage the wall trying to hang their own. I use these top down bottom up cellular shades in my office and they provide privacy or a view of the sky, plus I don't have to deal with those cords. I got them inexpensively from Home Depot, sized to fit my window exactly, they hold up well, and prospective tenants viewing the property LOVE them. In their rental application they listed it as one of their favorite things.

Is there any issue with doing an 1031 exchange in Denver and buying a property in California? At least there's no clawback :\

I have a property that is worth about $465,000. I bought it in 2003 for $250,00 with the proceeds of my deceased mother's property that I sold. I thought I could 1031 it for the current value minus the amount I bought it for, or that that would be the only amount that I would need to have sheltered from capital gains. Am I thinking incorrectly about this? Probably, because that's what my CPA said. I'm thinking about buying a property for only $215,000. Would I be able to protect that amount using the 1031 Exchange and not worry about the other amount since it's not affected by capital gains?

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $250,000
Cash invested: $10,000

Town home in Denver, Colorado, Capitol Hill. 3-bed, 1.5 bath.