Hi,I am going to put my rental property on the market and am looking to take the equity from it to buy a new home (primary residence). Question is can I use the 1031 exchange for this or does the new home have to be ...
Hello all-Would I be able to purchase a fix and flip project with 1031 proceeds? Below is just an example of a scenario.Original purchase price of rental home is $425K$400K loan balance$500K sale$15K closing costs$85K...
Hi guys, I recently purchased a SFH in Northern NJ for a flip and I am looking for a a good 1031 exchange broker to work with on the resale. If investors have had a positive experience in Northern NJ, kindly connect ...
I recently purchased a house at the court house steps in Baldwin county Alabama. I purchased it with a 50% partner. After we sell the house can I put my portion of the money into a 1031 exchange for the next deal? and...
It is my understanding flipping houses is taxed at ordinary income. If the house is held for one year then it is taxed lower. Is this true, and if so, would it make sense for my partner and I to flip the property, ren...
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?...
Hi! I have a good understanding of the 1031 exchange but have this question. If I buy a property, rehab and sell it within a 3-6 month time frame, can i 1031 exchange that into a long term hold property? The specifi...
I have a property under contract and an issue came up with my end buyer. He is unable to take the property because of an unexpected problem on another house he is rehabbing. When talking to the seller BEFORE getting i...
Hello Fellow Well Endowed Pocket Havers,Background: Recently purchased a single family home in Philadelphia as an investment hold property in cash. Decided after buying the house it would be worth selling due to comps...
Currently I own a condo in Atlanta which I'm trying to figure out exit strategies for. I initially thought that a 1031 exchange could only be done on a commercial property, but according to what I've read it can also ...