Gary Jellis
1031 Exchange rental to New rental then to Principle Residence?
Can I use a 1031 Exchange to buy another house, then "put it in service as a rental" for a short period of time of 6 to 12 months. After renting it for 6-12 months, then evict the tenants and move in as my new princip...
John Blanton
How Quickly Can You 1031
I recently closed on a 14 unit MF property in Central NC. I was able to get it at a fairly low basis and it appraised well above the contract price.I have spoken to brokers that have told me if they being me an offer ...
James H.
1031 exchange newly purchased property
BP fam, quick question, I have owned a single fam property for 30 days. I paid $24500 cash and but $10k in repairs and was intending to rent but I have found a larger rental opportunity. Can I 1031 exchange it? I have...
Chris Claro
1031 guidance for an unsual situation
Hi Guys, First post on here!I sold a warehouse that I owned since 2011 this January and did an exchange carrying over $1m into another commercial property purchase price $1.5m.Im currently submitting plans to the city...
Saar Amit
Tax Implications of Holding Period for Property Flip in Florida
Hi everyone,
I have a few questions regarding the tax implications of flipping a property in Florida:
1. What are the differences in tax rates if I hold the property for less than one year versus more than one year?...
Jack Gibson
need a referral for a 1031 Exchange company
Has anyone found a good 1031 Exchange company that they can recommend? Solid track record, dependability, trustworthiness, reasonable fees, etc. thank you!
Juergen Weitkuhn
Confused in Wisconsin
Confused. If wholesaling is legal in WI without a license why is it illegal to have a property under contract without the intention of actually buying the property yourself? Isn't wholesaling defined as selling a co...
Account Closed
Can i sell a gifted house inorder to buy a bigger multifamily?
Hey guys, so this is the situation.I was gifted a paid off single-family home recently. the property needs a bit of work here and there but overall it is in great condition!I plan on fixing it up a bit and selling so ...
Brian Orr
1031 options and timeline
I closed on a what was essentially a wholesale deal on June 23 of this year. It was a residential property bought by my LLC for investment purposes. I owned the property for about 3 hours before I listed and sold it 3...
Matt Geiger
1031 exchange rules
I bought a second property with a conventional loan and I have spent the last year rehabbing it. I have never rented it out and plan on flipping it. Would I be able to do 1031 exchange on this property since it was ...