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1 August 2024 | 71 replies
They don't do SFR and my prior PM almost exclusively managed 20-50 unit communities.
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27 July 2024 | 4 replies
Once the 1031 exchange is completed (again assuming 1031 compliance), I can continue to rent the property indefinitely or at any point after 2 years of rental, use it as a primary residence and thereafter living in the property for at least two years qualify to use the Section 121 Exclusion to eliminate capital gains entirely (gains estimated to be about $70 K, well under the $250,000 single filing limit).
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25 July 2024 | 6 replies
Sounds like they don't qualify for a Section 121 exemption/exclusion.
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26 July 2024 | 8 replies
Not a solution, but going forward...Have all adult tenant prospects fill out applications which require their social security number, driver's license number, their birth date, their current address and their prior address.
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25 July 2024 | 5 replies
If you can live there for 2 years you could sell tax free (2/5 year primary tax exclusion).
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25 July 2024 | 3 replies
We have had people try to move into a one bedroom with two adults and a baby.
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26 July 2024 | 24 replies
Usually teens/adults just enjoying!
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24 July 2024 | 4 replies
This is because, as adults, we ALL have *some* familiarity with cars and money and we know how the business world works!
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27 July 2024 | 15 replies
Note you are an adult.
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24 July 2024 | 3 replies
You are also going to have only a partial exclusion of your capital gains, not the entire 250k because you used the property as an investment for some of those years.