Hello All,
I'm trying to get some advice here. A client of mine recently put in an offer on a Bank of America property that was listed as "Active-with other contingency." Basically, in my area, that means it's a sho...

Hello! I was wondering how the timeline would work if you used a 1031 exchange to purchase a new construction.  I am assuming the house would need to be complete and closed on within the 180 days, but I figured I woul...

I have a portfolio that I have owned for 3+ years. Selling for 700k.

Total purchase price that I paid was $400k.

Let's say that $100k is from "after-tax money" for down payment/rehab cash and the ...

I have a question. I am a small lender just lending to investors for flips and refi's. I need to ask anyone that does the same type of lending a question. How long do you hold money for if someone asks you for a loan ...

Quick tax question..My friend lives in staten Island.. Lived there his whole life 30+ years.  He's look to sell his house which is all paid off for about 700K and then buy another house all cash in Jersey.  What are t...

I understand the math to the 70% rule in house flipping. (Conservative Market value after repairs X.70 - repairs). What I don't understand is where this 30% magically disappears to. I know that there will be closing c...

Question...Were are getting ready to closing....And I attorney needs a copy of the Seller’s Trust Agreement and the Seller’s cost basis numbers to complete the Closing Statement and the Gain Affidavit.What are the Sel...

I am in the process of a 1031 Exchange. I have a question regarding the 3-property rule.  Let's say I identify 5 properties and 1 falls through but I still close on the other 4.  Is 100% of the exchange disregarded or...

I’m expecting an offer on a former primary residence that we are renting out. We paid $173k in 2012, expecting an offer of $280k. Because we are active duty military, my understanding is that since we lived in it 2+ o...

Hello all.

I have researched but can't seem to find an answer to this question.

We've been renting our former residence for 2.5 years. If we sell it in the next six months, we'll qualify for the capita...