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All Forum Posts by: Eric Turner

Eric Turner has started 2 posts and replied 3 times.

Real Estate Deal Analysis & Advice

Post: Tax Implications for Seller; duplex sale subject to current loan

Eric TurnerPosted
  • Real Estate Broker
  • San Diego, CA
  • Posts 4
  • Votes 2

I have a client selling a duplex.  He bought the property for about $100K 15 yrs ago and refinanced the deal, pulling cash out about 10 years ago for $325K.  So his basis is very low.

We have an offer on the property for asking price (above current loan balance) with 30% down, seller finance 70% that will allow seller to get out of the deal.  Seller will consider refinancing the property and financing subject to new loan with a balloon in 5-7 years.

What will the tax implications of that sale be vs. bringing additional cash in and exchanging into another property?  I have other "traditional" offers coming in lower than current loan balance. 

0 Votes
Tax, SDIRAs & Cost Segregation

Post: Self Directed IRA's

Eric TurnerPosted
  • Real Estate Broker
  • San Diego, CA
  • Posts 4
  • Votes 2

Thanks Philip.  I'll check them out.  Appreciate the help!

0 Votes
Tax, SDIRAs & Cost Segregation

Post: Self Directed IRA's

Eric TurnerPosted
  • Real Estate Broker
  • San Diego, CA
  • Posts 4
  • Votes 2

I'm interested in rolling my current IRA's over to self-directed IRA's to be able to invest in real estate. Any advice on what custodian to open it with for ease in conducting RE transactions, fee structure, etc? Appreciate the help.

2 Votes