Costel A.
Do flips qualify for 1031?
I heard only rental properties qualify for 1031, but not flips. Is this true?
Andrew S.
Tax Plan for SFH Flip
For context: I have successfully "flipped" three houses in the past 7-8 years, all of which were my primary residence. I'm about to receive the contract on a SFH in NY state (buying outright with cash) with the plan t...
Kevin G.
Absolute Net Lease tied to a residential property - pros/cons?
Hello all,Thank you in advance for your feedback. I am seeking information on a potential deal I came across. The asset is a Residential home that is leased (absolute Net) to a medical treatment facility. I am famili...
Account Closed
1031 Exchange with 2 owners (one occupies and pays the other rent
If a father and son purchase a condominium together and the son lives in the residence and actively pays the father rent (father has invested more in the property than the son), is this property eligible for a 1031 ex...
Kon Zel
Help Interpreting 1031 Rule Changes
Just saw an article on Bloomberg alluding to changes with 1031 exchanges. The gist I'm getting is that the cost basis for the new property will be stepped down to adjust for depreciation on the property that's being ...
Leo Hurtado
Out of State tax for a new LLC
how to file my taxes for 2019, when I have an LLC in calif. and one in texas under a LLC in wyoming. I need help are there any tax people out there that can help me without costing me an arm and a leg. I live in Cali...
Christopher Lombardi
Bed Bugs
Hey BP,My crew is in the middle of demo-ing of an apartment building which we are turning into luxury units, and found TONS of bed bugs. There are literally colonies of bed bugs spread throughout the entire place, mos...
Nicole W.
LLC with SCORP option for tax purposes?
Hi all,I just formed my first LLC and received some information that if I elected the scorp option for tax purposes, I could reduce my tax burden. Is anyone familiar with this strategy? If so what are the pros and con...
Kevin Lefeuvre
Asking West LA experts: Thoughts about Playa del Rey
When do you think Playa del Rey will catch up in prices?
Even Westchester which has pretty much the same Airport nuisance as PDR but with no ocean view property and no walking distance beach, has progressed faster. B...
Darren Chang
CPA familiar with 1031?
Hi, I'm planning on doing a 1031 exchange. A good friend who is also a broker recommended finding a CPA to work out the number (unfortunately she doesn't know one herself). Does anybody have a recommendation?