But here are ways to reduce capital gains taxes:Deduct expenses (renovation, selling costs) in 2024 to offset gains.Hold for 1+ year to qualify for lower long-term capital gains tax rates.Invest in a Qualified Opportunity Fund (QOF) to defer taxes.Use tax-loss harvesting to offset gains with investment losses.Pushing 2024 deductions to 2025 won’t help much with 2024 capital gains.

Welcome to BiggerPockets Manuel!

This^^^^^Unless he is loaded with cash reserves and can take a loan out based on his liquid reserves.

Happy to talk through this in more detail and good luck with the out of state investing!

or get the land entitled and seek partners who would do the deal with you

Quote from @John Reagan Johnson: I would agree with Drew, and I was just on a call with investors yesterday for a mastermind I am in.

The eleventh hour deal just fell through after we jumped through hoops getting them every piece of paper they needed to close this deal by tonight.

Also feel free to reach out to me with any questions.

@Jordan Miller most Class A & B rental properties bought since 2021 really don't cashflow from day one.Class B will take 1-3 years to start showing cashflow.Class A, 3-5 years.Current investors keep making the mistake of looking back at deals from 5-10 years ago when prices & interest rates were both a lot lower, but NOT rental rates.

@Iris Olivas Most local banks/credit unions can do this deal with lower fees and potentially rates than brokers.