Nick Weisend
Should I sell my Duplex now?
Here’s the situation. Bought my first duplex a little over 2 years ago in a B neighborhood in NE Ohio. Interest rate is 3% and the payment is 2100$ a month but the house of it were not owner occupied would bring in 32...
Andy Winningham
Classifying as a rental property vs. classifying as a second home
Hello. Question for the community. I'm a financial planner in Dallas, TX and I've got a client who is considering the following decision and I'd love to hear some wisdom about how to advise him to proceed. Situation. ...
Donnie Rath
LLC formation advice
My fiance and I have purchased three properties, all in different states (CA, FL, TN). We opened up an LLC and EIN in the state of Florida, but we don't completely understand the next steps. I've heard it's a fairly...
Richard Benjamin Wilhite
How to Find "Cost" Basis for Inherited Land prior to 1031 Exchange?
I inherited 62 acres of land in Middle Tennessee back in 2017. I would like to subdivide the land into smaller 5 acre tracts, sell them, then complete a 1031 exchange. My CPA asked me what the "basis" in the property ...
Joan Gerhardt
Selling income property and purchasing a house
I sold the house I had been living in and used the money to purchase a house in Colorado that I intended to move into. I didn't move in but decided to rent it while I lived in rental property in another state. It's n...
Andrew Hofing
Anyone Investing in Tax Liens?
Who out there is investing in Tax Liens? What are the good/bad of doing so? I am considering investing in a program that does all the research to filter out the bad properties. The co. supposedly has negotiated ...
Frank Rubino
1031 on two family house
Here's my situation:I purchased a two-family house in 2016 and lived in unit 1, while renting out unit 2. Then in February of this year, I moved, and started renting out unit 1 as well.I want to sell the house and avo...
Ryan Tell
Eligibility for Capital Gains Tax Exemption
I'm under contract for a new home purchase which will ultimately be my primary residence after selling my current home. I'm trying to figure out the best way to finance and avoid capital gains tax. I would like to use...
Frank James
newbie; taxes; sold inherited property
Sold home(2) that I inherited, I'm in Texas, i don't qualify for capital gains tax as I already have a primary home(1). My question is how can I avoid the capital gains tax on home(2)? I was thinking about buying new ...
Yenika M.
Selling investment property
Hi Everyone!Please help me figure this out. When you sell real estate. Is there a way to avoid paying taxes?