James Folsom
Taxes on BRRRR Cash-Out Refi?
Does anyone know if you have to pay taxes on the cash-out portion of a BRRRR property? I know that you pay taxes with capital gains on a flip. But wondering how taxes would work on a BRRRR property.I'll give a scena...
Chris Johanski
Mtg. Int. Tax Deduction on a Contract for Deed for buyer?
state of Minnesota, can a buyer on a CD claim the Mtg.Int. Tax deduction if he/she is making the mtg. payment or enough of a payment to cover the mtg? Also, what if the house has no mtg. on it with the original owner...
John Dersoe
How much to keep aside for capital gains tax?
I'm selling in NY. 2fam, I lived in one unit and rented the other. My acct says when I bought the house for 560k 14 years ago, and sell it for 825k, it will be split into two sales.. and on the investment unit is what...
Nancy Chawla
1031 Exchange with mortgage
We have a two family home. We live on one floor and the other half is rented. The property is being sold for $1 million with a mortgage of about $300k. We're planning on doing a 1031/121 combo. The rental half is esse...
Marc Maser
Great Opportunity any Creative Down Payment Ideas??
Have an opportunity to buy a mixed use building in the village square from private owners. We bought our business building from them last year and they are good family friends. Building has three large commercial st...
Victoria C.
Selling My Multifamily Primary Residence in Washington Statea
Hi Fellow Investors,I have a friend here in the state of Washington interested in selling their 4plex that they’ve lived in for almost 3 years. What is the best way for them to go about selling this property and will...
Hunter Burrell
Advice for selling SFH for max profit/1031 exchange eligibility
Hello! my Aunt is looking to sell her 4br/2ba SFH in Commack on Long Island. They are inexperienced and I believe are working with an agent who isn’t investor savvy. Wanted to try and give her advice on getting the mo...
Wendy Vaidic
Tax Consequences of Partnership
Hello.
We are working on a joint venture with a homeowner to flip his home in Florida.
As part of the agreement, he would receive a set amount for his home along with a monthly holding fee until it is sold to the ...
Tim Silvers
Tax Implications of Seller Financing on rehabbed property
What are the tax implications for the seller of a seller financed property in which the seller purchased, remodeled and sold it on terms?Hypothetical transaction with easy numbers:1) Seller acquires property for $100K...
Daniel Remin
Going from single family to multi
Can you do a 1031 Exchange if the property you buy is a multi family and you live in one unit while renting out the others?