I'm considering selling a rental property and buying another that may be less expensive than the one sold. But the new property needs work. Can the excess funds be used to make the improvements without the tax consequ...
If I sell an investment property can I use those funds to refinance another property to do renovations?For example: I sell a $200,000 condo with no mortgage debt on it. Then I refinance a property that I already own t...
I bought my first investment property in 12/2018. I've added 2 new HVAC systems in April.
1. When should I refinance? (Looking to reinvest into another property)
2. What bank/lender do you recommend?
3. How much d...
Is it possible to do a 1031 on a partnered property if the new property is the same split? Can you use some of the proceeds for the down and some for the rehab? 1031 is new to me. I have never done one.
If you’re after the best money tips for 2024, we’ve got you covered! Every dollar counts when it comes to improving your finances, and our hosts are offering some invaluable end-of-year advice to help you do just that...
Single family rental property was bought a few years ago for $42,000.In 2018, furnace and air conditioner were replaced at the same time. They were listed as separate line items.The air conditioner was about $2700. Th...
Hello.
Anyone have experience doing a Construction/Improvement 1031 Exchange? I would be interested in learning more about the profitability and pitfalls. Thank you.
I've read through 10 pages of threads on conversions trying to answer my questions and haven't found the answer I'm looking for.
Here's the background.
Primary residence (from 2011) purchase price: $10k...
I have some fun accounting questions I'm hoping someone can answer.
So I'm pretty sure when I purchase a house to flip, it is recorded as inventory, then expensed as cost of goods sold when the house is sold....