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7 February 2025 | 6 replies
@Eric SmithGenerally, if the taxpayer sells the relinquished property to an unrelated party, the taxpayer generally cannot acquire replacement property from a related party unless:The related party is also participating in a 1031 exchange.The related party pays more in tax on the sale to the taxpayer than the taxpayer is deferring in the exchange (this scenario is rare).Let’s look who is considered a related party: Spouse, children, grandchildren, parents, and siblings.Corporations and shareholders owning more than 50%.Commonly controlled corporations.Partnerships and partners with more than 50% interest.Trustees, grantors, and trust beneficiaries.Non-Related Parties:In-laws.Aunts, uncles, nephews, nieces.Friends.Domestic partners.Entities owned 50% or less by the taxpayer or a related party.In your case, your mother-in-law, aunts, and cousins are not considered related parties to you under the definitions in Sections 267(b) and 1031(f).
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30 January 2025 | 4 replies
Keep in mind you will probably have a deductable to pay first.
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29 January 2025 | 4 replies
I imagine this is a similar model to Redfin's associate agent program that pays by hour/tour.
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29 January 2025 | 24 replies
Pay off debt .
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26 January 2025 | 6 replies
Quote from @Chris Pontello: Hi Chris,Correct me if I'm wrong as I'm still learning creative financing solutions, but paying them some money would be if I could take over the loan.
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10 February 2025 | 10 replies
It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.
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8 February 2025 | 13 replies
If you pay more, you won't meet your metrics and will probably have negative cashflow and/or equity.You may have to make 10, 20 or even 100 offers to get one accepted at the price that meets your numbers.This is what all investors did BEFORE the Great Real Estate Crash of 2008-2010.
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27 February 2025 | 26 replies
When she couldn’t pay, she had to sell fast, and guess what?
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2 February 2025 | 4 replies
It'll take time but can really pay off if you stick with it.I'm in Los Angeles and I've investing in TN and GA in the past, and currently investing in SE Wisconsin (your area).Let's connect and discuss the market.
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30 January 2025 | 4 replies
The last one told me I'd likely pay a small fortune for this policy.