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Hello!My husband and I own a multi family property in Los Angeles. The front house is 3bed/2bath with a converted garage and the back is a duplex, 2bed/1.5 bath each that are both tenant occupied. We want to sell th...
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Curious if anyone on the forum has experience with the tax-free sale of a primary residence (up to $250k if single) concurrent with military deployments.
1) As I understand the tax code, if you live in a h...
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I have owned a property for about 4 years. It is not my primary residence and have used it as a vacation property. It's located in FL and the market price for the house is estimated to be $150-175k over what I paid ...
Hey there, just a theoretical question:
Borrowing money via a loan or cash out refi isn't taxed as income since it's borrowed. If you were to sell a rental house without a 1031 exchange, I *believe* the portion that...
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I'm hoping this question belongs here.My family bought a condo a long while back. I'm looking to sell, looking at a possible $330k in gains. The loan/deed has myself and my mom on it.We won't be filing a joint retur...
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I'm purchasing a 2 acre development property from an older lady who has lived there as her primary residence for 20+ years. She wants $1.5M for it which is a fair price. She wants to buy a duplex with part of the proc...
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Hey there! I have a weird creative financing question for you. Have you ever heard of a deal where the seller carried the financing? Like say I dont have 20% down on a 100000 property. The seller has 100% equity the p...
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Hey all…I have a 25 unit property for sale and have received an LOI with some seller carry terms. The buyer intends to get enough conventional debt that we could pay our mortgage off as well as closing costs and have ...
Hi,
I'm a minor partner in an LLC with one other partner. We sold the property held within the LLC a few months back and my partner wanted to 1031 exchange his portion and I wanted to be paid out. As the major par...
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Can someone with lots of familiarity in real estate taxes confirm whether or not it would trigger capital gains when my co-business partner and I exchanged our 50% interest in each of our respective unit of the new tw...