He is willing to sell but is worried about capitol gains.

In addition, my understanding is that putting your personal residence in a LLC will cause you to forfeit the $250K ($500K if married) capital gains tax exemption on the sale of your house!!!

Hey Justin,I've been looking into South American real estate for some time now, but just haven't been sure where to enter the market at, along with how I can achieve the best of both worlds; cash flow and capital gains.

The only compelling reason to keep it is to preserve your credit, but the practical reality is your FICO score will be compromised (not destroyed) for at least two years.Face the music on the tax due for phantom income via 1099, square your shoulders and keep investing--this time with more insight gained from this experience.

However, it does look like a cap on executive compensation for firms participating in the plan has gained approval by Hank Paulson.

Even then in today's market, it's still hard.One thing I would have done differently from when I went full time is setting up enough passive income streams to cover my living and business expenses each month.

If your gain is small enough, and your tax burden correspondingly small it may not be worth the hassle and expense.

Also I am sure you will gain not only a powerful network, but also amazing information here.I look forward to hearing about some of your new rentals you will be acquiring soon!

If you've owned them over a year, long term cap gains is only 15%.Bottom line is that its difficult and expensive to extract this tiny bit of equity.

To gain some reo listings at this point is going to be tough, agents have been building relationships with these asset managers for the last couple years and there are lines out the door.