Married filing jointly your sheltered gain is $500K, filing single it's $250K!

Do you know of any investors that want to Joint Venture on an 100 unit rehab project w/ my investor in Birmingham, Alabama.

Section 121 says that the first $250K ($500K married filing jointly) of gain is TAX FREE if it's been your principle residence for 24 of the previous 60 months.

Also, another thing I was thinking about is if I just setup a joint account and them just adding to there account.

He could form a joint venture for each project too if he wanted.

Dextera3, to answer your question-Keeping your personal assets protected from claims of other people can depend on how you hold title to your personal residence (joint tenancy, tenants in common, etc.)

My mother 86 yrs. is on the deed (joint tenant with right of survivorship) with her brother (84yrs).

joint venture?

You need to have want is commonly called “skin in the game” which means a combination of cash, equity, out-picket expenses already spent on the project, joint venture partner, cross collateral-able property etc typically equaling 20% of the loan size lent.

This type of investment offers distinct ownership characteristics that are different from other forms of joint or shared ownership. - Each owner holds title to an undivided fractional interest in the property.- Ownership percentage on a TIC investment doesn't have to be equal.- Each owner is entitled to their ownership percentage of income, appreciation, deduction of mortgage interest and depreciation, etc. - Each TIC owner retains the right to transfer, partition, and encumber their interest in the property without agreement or approval of the other co-owners.