Michael P. Delaney
1031 Exchange Rules & Capital Gains
19 March 2021 | 9 replies
There is one IRS-approved method for building or improving that uses 1031 funds.Construction 1031 Rules and Process In a nutshell, it goes like this:You go under contract to purchase the replacement lot in OklahomaA 1031 company creates a brand new LLC to act as holding company (Exchange Accommodation Titleholder)You enter into an agreement with 1031 company outlining your plans in the construction exchange You assign the purchase contract for the lot to the new LLCYou arrange financing for the LLC to purchase the lot (this loan can be from you, a third-party lender, or your 1031 sale proceeds)Loans to LLC is secured by Note and Deed of TrustLLC buys the lotNow the LLC can begin paying for improvements to construct the barn-condoDuring the building period, LLC rents back to you and makes you "Project Manager" to oversee the improvements.Once improvements are completed -- or at the end of your 180 days -- 1031 company assigns ownership of the LLC to you.
Tim Ivory
Appraisal Value vs ARV
2 April 2020 | 8 replies
It's good to keep this idea in mind, but for all intents and purposes, assume it'll be slightly lower than the ARV would be safe.The tricky part is, even if there is high demand on the property, what lender would go for paying 30K above the appraisal and project ARV?
Salvador Carlton
Heloc Strategy to pay home mortgage down
2 April 2020 | 9 replies
I think for the most part is the concept of stopping time.
Isabella Rose
1031 exchange question
2 April 2020 | 8 replies
The QI must be an unrelated 3rd party whose only function is handling the client's 1031s.
John Hyre
Wholesaling in retirement accounts not legit
2 April 2020 | 3 replies
But if Roth Inc were owned by a completely independent party, Taxpayer Incorporated would have no reason to pay commissions to Roth Inc.
Mike Imbriglio
Any Luck with Craigslist as a Source Of Free Marketing?
7 April 2020 | 9 replies
That doesn't mean I would stop posting 9 ads a day in different sections lol If your budget is tight I would just get a hold of a vacant list from the county or a 3rd party website.
Kirk R.
stock market stupid prices?
18 April 2020 | 44 replies
The Fed is using a 3rd party to buy stocks, keeping the prices artificially high in order to fake it so the crash doesn't seem as bad as it really is.
Mitch Messer
Georgia Now Allows Remote Real Estate Closings - GAME CHANGER!!
3 April 2020 | 3 replies
As of March 31, 2020, all real estate closings in Georgia can be conducted with the parties being remote, with notarization and witnessing done remotely as well, for so long as the Public Health State of Emergency is in effect!
Christopher Aguilera
Investors in Las Vegas NV
8 April 2020 | 12 replies
If you’re going to bother opening your massive casino/hotel you’re going to figure out how to get people here.
Jessica Chidi
Oil & Gas Crash + COVID19…Is the Houston market tapped out?
3 April 2020 | 7 replies
@Jessica Chidi welcome to the party ...