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7 February 2025 | 5 replies
I would be beneficial to determine if they are other aspects of the property that make it a worthwhile investment (tax, appreciation etc).
13 February 2025 | 0 replies
I’m looking for ideas of how to do this, and any advice on how to protect my primary property along with paying low taxes.
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7 February 2025 | 2 replies
There are tax benefits to running everything through an LLC, but again, seek advice from a tax professional.
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8 February 2025 | 2 replies
Are they going to be able to buy your proudly done flip.3) If you misjudge the market, do you know when to dump it.4) Can you put a spreadsheet together on your purchase costs, carrying costs, rehab costs, closing costs, selling costs, tax costs, contractors that don't show and delay your project etc. etc. etc.5) Is the return worth the risk.
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13 February 2025 | 0 replies
After two years of occupancy, qualifying for the tax exemption, and benefiting from appreciation, we chose to sell and reinvest the funds.
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21 January 2025 | 11 replies
I don't foresee Texas implementing a similar law, but I'd be interested to know how this change has affected others.Side note: It's not the Section 8 tenants that I'm avoiding, it's the government bureaucracy that comes with it.I believe the majority of the US population lives in states with the same law.How do we navigate it in those states?
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10 February 2025 | 6 replies
Or sell using the 1031 exchange along with a partial 121 primary residence exemption There is a way you could take advantage of the 121 primary residence exclusion allowing you to take the first $250k of the gain tax free ($500k if married) and qualify for a 1031 exchange.Say you purchase a property as your primary residence (house hack extra rooms for extra income) and lived there for two years while stationed there.
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6 February 2025 | 16 replies
Yes, property taxes are higher for investors but not terrible.
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31 January 2025 | 7 replies
The property owner's tax professional can help them with that and ensure they don't pay taxes twice on the same income.Disclaimer: My advice/opinion in this post is just that, my opinion.
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10 February 2025 | 3 replies
If you live there 2 years or more before selling you will be exempt from tax on the 1st $250k in profit which is a nice bonus.