Lynn Z
How to 1031 1/2 of sale of real estate
A CPA (QI) told me you can roll a 1/2 interest in real estate if the partner doesn't. How does that work? The replacement property would only have to be 1/2 of the sales property amount of the relinquished property?...
Account Closed
Question about depreciation.
When you sell a property and do a 1031 exchange to defer the capital gains, does the new property you buy restart the entire 27.5 year cycle all over again?
I know the capital gains follows you but can you continue t...
Daniel E.
Deed-in-Lieu Timing - how to avoid liability in reaching out
Question for the experienced npl / npn / nonperforming buyers.We purchased a note that is 5+ year delinquent with significant delinquent property taxes. The county requires 25% down to start a tax payment. Due to this...
Brian Bradley
Debt Relief vs Collection Defense aka (Bankruptcy vs Asset Protec
You are investing in real estate. You are going, or should, understand the difference between these two concepts. Collection defense and debt relief are better known or understood as asset protection and bankruptcy. T...
Michael Moikeha
Tax implications on Contract Settlement
I have an interesting situation and my accountant is working to figure it out, but I would like to see if anyone has had experience or has insight they can help with. I have 2 contracts with one lender. They had 1031 ...
Kent Harris
Filing Bankruptcy
A new Tenant had moved in to my rental, once the Lease was signed they had said. "BTW did I mention I'm filing Bankruptcy next month?" Is this going to effect the rent rate there paying now? Are they going to pay rent...
Roy Williams
Tax Consequences of a Foreclosure
Hello Folks, was curious to see what the tax consequences are if you have an investment property foreclosed.
Are you taxed the following year on the full amount of the debt? Are you taxed on the differential between...
Steven Miata
Legally paid in full vs. deficiency?
I pulled this statement off of this forum: "Also, a little known fact, is the lender could actually report to the credit bureau's as the loan being paid for less or settled for less. If a lender reports the loan on yo...
Gargi D.
Advice on paragraph of the FHA Financing Addendum I
I was to purchase a condo in Washington DC this month. I had a pre-occupancy contract which expired the day before the FHA certification and financing. The contract ended as it was to be the settlement. The sett...
Heath Donnald
Settlement proceeds in personal name, expenses in LLC name
My wife and I are partners in an LLC that just sold a flip. The expenses were paid from the LLC account for the 14 months I worked on the house. The house was in my name, not the LLC, so the settlement proceeds had to...