All Forum Posts by: Tyler Brobst

A side note: I do plan on investing the money into another investment property (non primary) 

I bought a primary residence in October 2023 with the goal of living in it for a little bit and then selling it for a profit. I bought it for 60,000 and have it listed  for 100,000.  I have already moved out of it and am living in a new primary house.  A side note is I have a coworker who was renting the room upstairs an is continuing to rent while its for sale. 

With the 40,000 profit is there anything I can do to defer my tax? I have looked into some of the rules and it appears that I could not defer this money to a 1031 because at one time this was my primary residence?  

Any help would be appreciated.

 Yes thank you that’s what I was trying to say.  couldn’t think of the term! Hoping in about 3 months it will be done. 

Yikes; need to have more location options for Missouri. I'm located in Mid Missouri. I only have 1 current rental house but I am building a duplex as well. The concrete has been poured, exterior walls, window, roof is done. Still have to do the inside.  So far I am only at about $90,000 in cost for this duplex and when I am done Im hoping I can refinance for 80% of a higher value then what it cost to build, rent out, and repeat the process. I'm hoping to learn from this forum like I have learned from the bigger pocket podcast.