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13 January 2025 | 9 replies
Feel free to reach out if you ever have any questions!
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16 January 2025 | 23 replies
That alone can free up so many avenues for you.
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13 January 2025 | 15 replies
Alec,The free services go a long way to giving you a pretty good idea for what a property’s demand will be.
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14 January 2025 | 37 replies
If you engage with them and seriously contemplate what they bring to the table, you will make a better decision in the end.And no one has tried to sell you a thing, just a bunch of real estate multimillionaires trying to help you, for free.
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22 January 2025 | 22 replies
The calculation involves:Selling Price: $1,075,000Original Purchase Price: $355,000Depreciation Recapture: $105,300 (taxed at 25%)Capital Gains: Sale price minus original cost, minus depreciation, minus selling costs (~15-20% federal capital gains rate for their income bracket).State Taxes: Since the property is in California, state capital gains taxes will also apply.Given the multiple layers, I’d highly recommend your parents work with both a CPA experienced in real estate and a qualified intermediary for the 1031 if they choose that route.If you need recommendations for professionals in Illinois or California, feel free to ask!
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21 January 2025 | 35 replies
These are factored into the mix.In the future, I will suggest that you request a move-out report along with pictures and/or video on what needs to be taken care of.
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30 January 2025 | 19 replies
Or that it should be free?
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29 January 2025 | 22 replies
Second pro is that you get to lower your living expenses or live "rent free" by having your tenants pay for your mortgage payment.
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19 January 2025 | 8 replies
Hope all of that makes sense but feel free to post with anything else.