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All Forum Posts by: William Curry

William Curry has started 6 posts and replied 15 times.

Post: Experienced, Affordable, Real Estate Accountant Wanted!

William CurryPosted
  • Real Estate Agent
  • Washington Township, NJ
  • Posts 15
  • Votes 2

Thank you, for all the advice! I am not exactly trying to cheap out, so maybe I said that a little misleading but I need to make sure its within my budget while trying to get started and on my feet as well. I am not exactly against working with someone remotely, but wouldn't the tax laws vary due to location? I would think that having someone familiar with my local area would be in my best interest and convenience but if that's not the case then I would definitely consider it. So I am a little confused on the difference between having a tax strategist for helping me throughout the year with decisions, an accountant that specializes in real estate, an accountant that specializes in business and also a CPA for my income taxes. Are these all separate people I need to have or can I consolidate and find someone that can cover all of what I need? Since I am just starting off with my first property, using my real estate license as a side gig not as my full time job and would like to be able to ask for advice on decisions throughout the year; is it realistic to find someone that can cover all basis efficiently? I do have a goal of slowly building up properties as well as transitioning to less regular work and more use of my real estate license so I would like to hopefully build a team to stick with instead of having to consistently change it up with each new property or income source if possible.

Post: Experienced, Affordable, Real Estate Accountant Wanted!

William CurryPosted
  • Real Estate Agent
  • Washington Township, NJ
  • Posts 15
  • Votes 2

I am a real estate agent in Washington Township, NJ (South Jersey) and I am starting to put together a team for my own real estate investments. I am purchasing my first vacation rental property in Brigantine, NJ at the moment and plan on purchasing more over the next few years. I have always done my own taxes in the past but feel that it would be in my best interest to find a professional accountant who specializes in real estate to have on my team to seek guidance and have handle my finances as I build my portfolio.

Post: Does a gift of equity on a house mandate a capital gains tax?

William CurryPosted
  • Real Estate Agent
  • Washington Township, NJ
  • Posts 15
  • Votes 2

@Christopher Smith ok that’s what I was hoping to hear thankyou

Post: Does a gift of equity on a house mandate a capital gains tax?

William CurryPosted
  • Real Estate Agent
  • Washington Township, NJ
  • Posts 15
  • Votes 2

@David M. She’s selling me the property for far less than market value to keep it in the family and I’m using some of the equity towards my down payment. So we had to up the sale price and and use a gift of equity.

Post: Does a gift of equity on a house mandate a capital gains tax?

William CurryPosted
  • Real Estate Agent
  • Washington Township, NJ
  • Posts 15
  • Votes 2

My aunt is selling me a house in NJ for 400k and it is appraised at 480k. The 80k is going to be a gift of equity. Does she need to pay a capital gains tax on the 80k?

Post: S. Jersey real estate attorney

William CurryPosted
  • Real Estate Agent
  • Washington Township, NJ
  • Posts 15
  • Votes 2

@Stephen Kappre thank you

Post: S. Jersey real estate attorney

William CurryPosted
  • Real Estate Agent
  • Washington Township, NJ
  • Posts 15
  • Votes 2

I am looking for a recommendation on an attorney in the South Jersey (Glassboro) area who specializes in real estate investing and trusts who would give me a free 1st time consultation to see what my options are for creatively purchasing a rental property.

Post: Books/strategies on owning/managing vacation rental properties.

William CurryPosted
  • Real Estate Agent
  • Washington Township, NJ
  • Posts 15
  • Votes 2

@Lucas Carl thanks I appreciate the response and good luck with writing that book. Let me know when you have finished it.

Post: Books/strategies on owning/managing vacation rental properties.

William CurryPosted
  • Real Estate Agent
  • Washington Township, NJ
  • Posts 15
  • Votes 2

I am in the process of buying a vacation rental property at the jersey shore and looking to maximize profits and learn the best ways to manage the property myself. The property has a great 20 year track record using air b&b and other sites and my aunt is selling it to me. I would like to improve where possible and would love to find some good books/information on this.

Post: Creative financing for 1st rental property.

William CurryPosted
  • Real Estate Agent
  • Washington Township, NJ
  • Posts 15
  • Votes 2

@Mark Durham they said maximum 15 years but I would hope to refinance whenever possibly to pay them off and have the entire mortgage together.