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5 December 2024 | 13 replies
If you move into a property acquired through a 1031 exchange and make it your primary residence, you may qualify for the capital gains exclusion under Section 121 (up to $250K single/$500K married) if you live in the property for at least two of the last five years before selling.However, gains attributable to the time it was a rental property remain taxable (non-qualified use), and depreciation claimed during the rental period must be recaptured at a 25% tax rate.
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30 November 2024 | 0 replies
A good broker remains transparent throughout the process, providing regular updates on loan applications, lender responses, and any emerging challenges.
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10 December 2024 | 100 replies
Your argument on market motive, to be true, would mean Super-8's would be doing gangbusters, and there not.
30 November 2024 | 0 replies
I’m not able to personally qualify for cash out refinances.I’m looking to sell my home located in Southwest Florida in a HOA community but want to remain in the home to lease- 3 years or more.Does anyone have experience with this type of program or have any suggestions for me on where to look to get this done.
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2 December 2024 | 35 replies
However, I have no idea how to choose from the remaining cities, it seems there are a lot of potential options:- Midwest - Michigan (ie: Grand Rapids) seems to have options, also seeing Columbus Ohio and Indianapolis coming up- Reno - I've seen mentioned several times on here- Pittsburgh / Philadelphia / Twin Cities - All mentioned as lower cost to get started, and seem to be experiencing growthI'd ideally like to find a place that has strong potential for future growth, a diversified economy, and I don't mind living in (being close to nature would be a plus).
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30 November 2024 | 1 reply
To evaluate Real esteate deals for creative financing, start by identifying seller motivations i.e. financial distress, desire for passive income, do they need a downpayment on their next house, etc and property factors like equity or existing financing terms.
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5 December 2024 | 19 replies
Celebrate his progress to keep him motivated and engaged.Good luck!
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13 December 2024 | 32 replies
Codie Sanchez will get you motivated, I just ordered her new book Main Street Millionaire, but have not read it yet.Sail with the wind, not against it.
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29 November 2024 | 2 replies
.: I'm curious how CA agents can make a living with laws like AB2992 that state:"If the out-of-pocket costs to pay their agent remain too great and the seller and buyer have not yet reached an agreement on the sales price and/or terms, the buyer may walk away from the subject property provided there is an exit clause, proceed without representation, or approach the seller's agent about possible dual agency representation."
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30 November 2024 | 1 reply
Purchase price: $8,500,000 Cash invested: $3,450,000 This property was acquired from a motivated seller at a 20%+ discount to market value.