All Forum Posts by: Zachary Rosa

2018

Hi,

I am planning on a potential 1031 (very early stages) and would like to see what the reinvestment goal would be to maximize the befits of the 1031.

property I would like to exchange 

purchase price $515,000

sell price est: $725,000

current principle balance: $350,700

Interest rate 3.25

Current Mortage is $2300 and it rents for $4000. This was the first property I ever purchased so I have a lot of equity and I feel like it could be better used.

thanks all for the responses. 

here's another issue....

I am buying a new property in NH ( my other 2 are in MA) My LLC is held in MA and my 2 properties in the LLC are in MA. The new property is in NH.

For tax purposes are you taxed on where the property is located or where the LLC is located? I am assuming it is where the property is located but want to be sure.

I currently have 3 properties ( 6 doors). I currently keep all the money in and out in one bank account. I do not have an LLC.

I am going to continue to acquire properties and and wonder where to start. Should i create a LLC in each properties name along with a business bank account for each property? or is there a better way to go about this.

I am in the process of buying my second property which will be a 2 family. My next property i would like to purchases i would like to some family members to invest and slip the property with me. If i create and LLC and put the property in my llc will my family members also get the tax benefits of owning a rental property as i will being the owner of the property?

I own a 3 bedroom condo in MA.  In the master bedroom it clearly used to be two bedrooms and the previous owners knocked down the wall. I am looking to re-add the wall and move out. Can you explain to me the process of getting that wall added legally? I would be doing most of the work but just need to know if i need a permit to do so?