25 March 2022 | 37 replies
However, I knew that was happening well ahead of time and agreed to it, in exchange for not paying the seller back the pro-rated property taxes.
15 January 2016 | 19 replies
Not saying that will happen, but its easier to be right on the front end.Also, if you're flipping frequently, I highly recommend discussing the rules of a 1031 exchange and this can be a great tool to deferring taxes on gains associated to real estate.While I do go on record that I am a CPA, I do not specialize in real estate tax transactions as my background is audit (not tax), it's important you speak with a real estate tax accountant to ensure your best interest are met.I hope this was helpful, there are plenty more GL accounts to include and PM me if you have more questions.
25 July 2015 | 2 replies
I can 10-31 exchange them for more properties thanks to the appreciation though, so that's a plus.I have all my money in real estate at this point, roughly 500K.
10 October 2021 | 36 replies
@Brian Gawronski please feel free to message me and we can exchange emails and contacts.
20 September 2016 | 11 replies
Hopefully that correction isn't flushed further due to external/foreign events (like Deutche Bank or the host of EU countries drowning in debt).
30 April 2016 | 21 replies
I have that discussion upfront with the agent who brought me the deal and I offer them the chance to re-list one of my other properties in exchange for bringing me the other deal.- What services do you expect from a listing agent?
5 May 2016 | 9 replies
Even with a 10-31 exchange you're still paying a lot of your leveraged gains worth in fees.
12 May 2016 | 7 replies
You will end up spending the same amount if you seek the service from a reputable attorney/CPA.You will also need an LLC in every state that you own property in unless you plan on registering as a foreign entity and you will still end up spending about the same amount.
28 November 2022 | 40 replies
If I sell it, I have to do a 1031 exchange to avoid taxes.
28 March 2018 | 4 replies
They have a foreign exchange guy working for them for a few months.