Jef A.
Purchasing the second home (Getting the ball rolling)
I recently paid off my home and i am interested in purchasing another home/duplex for the rental income. Banks are telling me that because i own a home i would have to pay 20-25% for the down payment because it would ...
Account Closed
Can you do a 1031 exchange of a personal residence (trick question)?
When you read section 1031 it is very clear that personal property is not included in this type of exchange. Homeowners that qualify though can take the section 121 exchange.
There are circumstances though that a 10...
Steve Hungerford
Can I defer capitol gains and keep low property 19 (CA) Tax ?
I am the POA for my dad. His house has high capital gains taxes (bought it 1983) and low property 19 (CA) tax base. Can I keep property 19 tax base on a 1031 exchange ? ( I have heard no)
Could I do the 1031 exchange...
CJ S.
Selling former 20+ year residence after conversion to rental
We are considering converting our residence we have owned over 20 years to a rental. Would that forever eliminate the opportunity to take the capital gains exclusion if we sell in the future? Does the number of years ...
Account Closed
Qualifying for future mortgages while house hacking
I am going to be looking at duplexes within the month or so, but in looking at some of the fannie mae overlays for conventional loans, it appears that the income from the other side gets completely added to my income,...
Michael Hajduk
121 Capital Gains Exclusion
Hi, I was wondering if anyone out there has experienced this scenario before. I physically resided in my primary residence for 22 months, then was sent out of state for a year-long training course. I fully expected to...
Jim Klapmust
1031 splitting from shared ownership
Hi all,Back in 2004, my brother and I acquired a rental property. We split it 50/50 and continue to this day. We aren’t structured as a partnership or LLC, just two bros who bought a house together.Fast forward to tod...
Jesse Giacomelli
primary residence to rental, then 1031 to primary?
Hi guys,
I'm fairly new to 1031 exchanges and had a question about 1031 exchanging from rental to primary residences. Here's the scenario:
I've owned a home in California for the past 3 years. I plan to...
Justin Summers
Just need confirmation on Primary Home Capital Gains Exclusion
Okay. I think I have this right but Since I'm dealing with a lot of money Just wanted confirmation. Because it's a lot of money.
I moved into my house as my primary residence and lived there from June 1st 2015 thro...
Jacob Walls
Need help with FHA question
I’m a first time home buyer. I’m looking at a duplex currently, if it’s my primary residence then I would qualify for FHA loan right? If so how long does it have to be my primary residence before I could rent out both...