
20 November 2020 | 7 replies
If you have any intent on renting a portion of your residence that you're moving into, part of your new home could be considered 1031 but only the portion that is rented.Depending on the amount of equity you hold in your current two properties, it may be more tax efficient to do some sort of HELOC or cash out refinance to acquire the new property you will move into.You should also note that there is no capital gain exclusion for selling the investment property (except a 1031 which is temporary) but selling your personal residence using section 121 automatically excludes $250k (500k if married) of capital gain.If those avenues are not possible, you may be stuck with the capital gain tax.

23 November 2020 | 42 replies
Especially where you purchased cash, a lot of times they exclude those because they are not true apples to apples (Boise is seeing these exclusions on the other side because house prices are so blown up with Californicated money flowing in that if a bank had to sell the place a year from now that they would never be able to get purchasers who need bank funding).

19 November 2020 | 7 replies
I'm excluded from capital gains since it was a primary 2 out of the last 5 years.

20 November 2020 | 6 replies
The 50% “rule” is a rule of thumb that says your actual expenses, excluding any mtg pmt, will be about 50% of the rent.

26 November 2020 | 7 replies
I'm looking back through our sales data for this year and there's only 5 out of 70 sales that were active for more than 3 weeks (excluding vacant lots).

21 November 2020 | 4 replies
They will usually average your last 2 years' income and unemployment income unfortunately is excluded.

25 December 2020 | 37 replies
Cities must be very specific if you mean $60-$150k purchase price, that excludes huge swathes of the country.

5 January 2021 | 15 replies
The NOTS or NOS (Notice of sale) has the total amount owed as of that date and the original loan amount (Excluding legal/foreclosure fees).

2 December 2020 | 2 replies
I thought that leased real estate was specifically excluded from qualifying?
24 November 2020 | 6 replies
And it wouldn't impact the intent requirement anyway."2nd home" financing does not exclude the property being used for investment from the 1031 perspective.