I recently completed an exchange and would like to know if I'd be ok legally if I lived in the property. The property was purchased in my personal name and later transferred to an LLC.
Here's what I'm putting together for an apartment LOI, not sure what or if I should save stuff for the purchase contract:A) Purchase Price (high offer, almost asking price since there's already another offer on the ta...
I recently bought a condo with the intention to rent out but after closing we found out that the HOA doesn’t allow rentals. Our realtor knew our intention to rent it out and said we’d be able to. Is there any action I...
Hello, I purchased a distressed house with the intention of fixing it up. I've received some good offers on it before it's finished and am planning on selling. I purchased it in November of 2020. If I sell in Janua...
Hello Bigger Pockets community, I began investing in real estate a couple years back and recently completed my first fix and flip. I am wondering if there is any good information about the 1031 exchange rules. I und...
I closed on a what was essentially a wholesale deal on June 23 of this year. It was a residential property bought by my LLC for investment purposes. I owned the property for about 3 hours before I listed and sold it 3...
Hi All, My primary residence is a condominium that may be "deconverted" into apartments. There is an institutional investor looking to purchase my entire building, and if 75% of residents agree to the sale, everyone m...
Hi, I understand rental properties are not earned income so you don’t have to pay self employment tax on them. Has anyone fixed up flips or built new construction and instead of selling immediately, either rent...
Is it possible to utilize a 1031 Exchange for vacant land? Specifically can I use a 1031 to move from parcel to parcel? Also, what is the interaction between owner financed land and a 1031 exchange? Finally, how many ...
Hello, I’m a little situation here and I’d greatly appreciate some advice. I bought and lived in a property for 6 months while renovating it. It was purchased for 200,000 and I believe I can sell for 290,000 or so. If...