All Forum Posts by: Terri Donovan

You can purchase individual private health insurance from the marketplace here: https://www.healthcare.gov/see-plans/#/. 

We were able to retire early thanks to the option to buy individual health insurance. Note that premiums are based solely on age and whether or not you are a smoker. 'Preexisting conditions" are not a factor and are not asked about. I have a fair amount of experience with the details on these policies. Let me know if you have any questions. I MIGHT be able to help.

It's the easiest way to compare apples to apples. You quote me your 0 fee/pt loan and all I have to compare is rates. 

After that, I can ask about buydowns and compare that. 

I've always heard "no cost" referred when there are no discount points and no lender/processing/underwriting fees.  Third party costs would be incurred. 

And thanks for the tip. 

206 and 207

Yes. Thank you. That is the plan. 

Both homes newer single family homes under contract for 205ishK; in Missouri

Joint Application: Credit Scores High 700s; low 800s; 

25%+ down, 

47% DTI w/o rental income; under 40% with 75% of market rate rent on new homes

long employment history; 

significant reserves; 

down payment in 1031 escrow account ready to go.  

We have owned two investment properties for a total of 15 years.  

What rate should I expect for 0 cost loan? 

Who would you recommend? 

@Dave Foster  Thank you so much!  I'm dumbfounded that a difference in thousands of dollars of tax liability is dependent on the interpretation of different accountants. So should I just call around until I find an accountant who uses whatever strategy is the most tax advantageous to me then? Ha.  That's messed up. :) 

@Dave Foster 

Another question: how does adding a credit for prepaids to the purchase price affect the net gain? I know they are not allowable as a stand alone expense.  When structured this way is that credit pulled out on the final 1031 statement as an unallowable expense or not? 

@Dave Foster

Thank you. So the depreciation wouldn't transfer to the new property?  Kind of hoping I might just be paying cap gains and not the recaptured depreciation tax. 

And, if I only end up getting the 205K property, is that amount my new basis? 

I cannot find the answer to my question. Hoping someone here will help me figure out tax consequences of this scenario: 

Purchase price 150K

Improvements 118K

Depreciation 77K

Sale Price 450K  

    So my gain is 450 - (268 -77) = 259, right? 

I want to buy a 205K replacement property.  Will that allow me to defer ANY of my taxes?