Curt Smith
Tax advantage of selling as a rental vs a flip
We have an odd situation; We bought a property with the intent to rent it post rehab. We advertised it for rent. Got a renter but just at the last minute we agreed to owner finance a sale to the almost renter tu...
Anthony Wick
Hey CPA person, can I sell my duplex to my LLC?
I own a duplex in my name only. I also own other properties in my LLC, which is comprised of two other unrelated partners. Can I quit claim deed my duplex over to my LLC, and have my partners pay me directly for 2/3 v...
Leanne Roth
reverse house hack question
Is there a way to avoid tax on the gains of a sale from a rental property that has been bought through a 1031 exchange if you convert it to a primary residence for the last 2 years before the sale? For example, let's ...
Kyle Gilbert
Can Owner Financing Help Seller Avoid Capitol Gains?
In podcast #246 they talked about owner financing. They said it could help the seller avoid capitol gains and move along their decision to sell. Is there truth to this? If so, why are there not mass amounts of people...
Kevin Sapp
Transfer (gift) and sale of a depreciated property
I have a rental property in service and depreciated since 1993. Purchased for 110, selling for 146. Don't want another rental right now, so 1031 to a rental not what I'm considering.What are issues with 709 generation...
A G.
LLC & Reseller permit
I am just completing a short plat subdivision on a rental that I owned. The land had existing home that has been rented. My plan is to build new homes on the new lots possibly for rental but in future sale as well.i a...
David C.
Cashing out a 1031 Property ??
I have been trying to find some definitive information regarding the following scenario:In the event of the sale of a property that has been purchased using 1031 funds, how is a cost basis figured out ? I have found s...
Noelle Flores-Smith
Family house up for auction
My family neglected their family home for years and now it is up for auction in a few days. The bank wants a hefty amount for the home and the home needs major major fixing. Homes in the area are going for 300k over t...
Account Closed
tax and capital gains strategy for a retiree
I have a neighbor down the street ask me how he could sell his 4 investment properties and not have to pay any capital gains tax. I thought do a 1031 like kind exchange but he is 75 years old and wants to liquidate hi...
Cale Delaney
Increasing your NOI with Creative Strategies
Hi Everyone, I wanted to share some creative strategies that have allowed me to increase the NOI on our first multi-family property by an amazing 105% in only 5 months of ownership using some creative strategies I lea...