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7 July 2022 | 21 replies
#2 in @Scott Trench post - He is referring to the IRS tax code that allows you to get a $250k exemption (if single) or $500k exemption (if married and filing jointly) on your capital gain of the sale of your primary residence.
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29 June 2022 | 7 replies
We have a healthy 401k, healthy bank accounts, very good credit scores and no personal debt.
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6 July 2022 | 1 reply
Here's how the septic system works: Water used goes out to the septic tank (Kitchen, laundry, toilets, shower, bath, sink), solids remain at the bottom of the tank and then black water goes out to the Drainfield.To keep a healthy drainfield, I recommend servicing the septic tank every 3-5 years, if it's a SFH, and, 1 to 2 years if its multi family.
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21 July 2022 | 6 replies
I reduced my DTI ratio to below 20%, I have a healthy emergency fund, and I can save about $1,000 a month.
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28 June 2022 | 9 replies
Do you have enough income to cover the mortgage or healthy cash reserves?
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9 August 2022 | 8 replies
Start researching the excess funds treasure troves again in Alabama, update your joint venture agreements, and sign up CURRENT owners so you can claim that money and split it according to however you negotiate the split.
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9 July 2022 | 41 replies
Look at the rare book market, art market, etc - all healthy and seeing record prices, but a virtual blip on the economy as a whole because there's only just a few (relative) people who participate.
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10 July 2022 | 5 replies
Lean more on networking than the MLS and have a healthy amount of dry powder
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10 July 2022 | 6 replies
@Nerlande Joseph, as I understand it, you have a few options (and more): - Sell the condo, pay the taxes, invest the rest - Sell the condo and do a 1031 exchange into another investment property - Sell the condo and put the gains into a QOZ investment - Move into the investment property for 2 yrs and make it your Primary residence and the gains (up to $250K/$500k if filing jointly) will be tax free.So a lot depends on the tax outcome you desire (consult your tax professional).From the sale, you can look for a SFR or smaller MultiFamily or I would even look into being part of a Multifamily syndication, where you are passive, but collect decent cash flow and have upside.Doing a 1031 exchange into a small property is possible with $150-$200K but doubtful anyone will allow a TIC into a larger deal for that small an amount.Hope that helps.
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8 July 2022 | 0 replies
😂We are still in a healthy market.