That's a great person to start with!

You would need to rent out the property for at least two years to demonstrate it was held for investment purposes and comply with IRS guidelines.

Hello! Just wanted to share some notes on my experience with RentRedi.  I was not going to but I noticed BP is now promoting RentRedi again on their recent podcasts so just want to share with others before people deci...

I was suggesting that if you wanted to do a 1031 of a property held in a LLC, they would be forced to also do the 1031 exchange.

@Brice Alef-Torrisi To manage finances for multiple properties, maintain separate bank accounts for each property if held under different LLCs to avoid commingling, which could jeopardize liability protection and complicate tax deductions.If properties are under one LLC, using a single account is fine but requires detailed record-keeping for each property.

It requires a solid FICO, that you get pre-approved with all current financials held in file beforehand, with the complete contract package submitted upon execution which starts the clock; insurance must be arranged within three days for lender underwriting. 

Nomad also held the renter's deposit hostage even after I cleared the transfer with no damages to be charged.I had to remind Nomad there is a difference between “can” and should” , while you “can” hold a deposit longer it “should” only be done when there is a question about damages.My bank liked the guarantee, the disorganization inside Nomad and the horrible vendor management would cause me not to use them again.

Buffalo, New York, has once again been named the nation’s hottest housing market for 2025, marking the first time a city has held this title in consecutive years.

@Sung Yu, the intent of the 1031 is that the property must be held for investment use.

You will have to pay higher personal income tax rate, versus waitingtill after one year for lower Capital gain tax rates.