Erica Ho
Qualifying for an FHA loan
Hello,
I am a first time home buyer and was thinking of buying an out of state rental property first. The second home I would buy would be my primary residence in a much more expensive area like NYC where I would be ...
Peter Tonsits
Qualifying for a 2nd rental property loan
Hello,Me and my business partner bought our first property in 2019. We are currently renting that property out to tenants and my business partner lives in it as well. We are trying to purchase a 2nd property however a...
Toni Baca
Househacking - Tax Deductions and Section 121
Hello, I am under contract for my first house hack! My ideal plan for the first home is to live in it for 2 years (with 3 roommates), rent for 3 and sell before the end of 5th year. Under IRS Section 121 - if you live...
Michael Hahn
Live-in Flip vs NOT
Hi all-Newbie here. Searching for my answer on BP, time and time again I hear that live-in flipping is too good to be ignored due to the enormous tax capital gains tax benefit. My question is, what differentiates the ...
Eric Babcock
Buying First Investment or First Home?
I currently reside in Southern California where I am working very hard to afford the goal of homeownership for my family and I. Yet, I also want to begin my journey as a real estate investor. With that being said, wou...
Jimmy Hong
1031 exchange & capital gains tax for primary property sale
Hello everyone,
We, my wife & I, have a primary property that we have lived in for 18 months. We will be selling our home and our net profit will be tax free due to our primary property.
We also just sold our...
Vlad Stinga
FHA Loan in one state, while working seasonally in a different st
I live in Massachusetts, work seasonally as a bartender on an island, and want to buy a house in Tennessee to live in the off season.
Every summer I make decent money working in MA so I would like to keep doing that ...
Kay Ferdous
1031 exchange question
just flipped my first homr and neted about 30k
if i now use this money to conver my current home to 2 family. would that work as 1031 exchange ?
Marcus Brown
Does the primary residence tax exemption apply to mobile homes?
Let's say I buy land and put a mobile home on it and live there 2 years, then sell for a profit. If the mobile home is considered personal property would the profits be taxed?
Tim Mospanyuk
Partial 1031 exchanges?
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...