Updated almost 7 years ago on . Most recent reply
Capital Gains question; buying from yourself
This is more of a Tax question,
Traditional BRRRR would be Buy, Rehab, Rent, Refinance, Repeat and you have no Capital gains on a Refi but you can only pull out 70-75% of the value of the property LTV. Now, if my wife and I buy a property and title in my Wifes name only i can rehab the house, then buy it at the new full LTV of 85% with my local credit union. So $100,000 property i can pull an extra 10,000 n cash out of it. But...
My question is this, Capital Gains... Will I pay capital gains with my Wife and I filling our taxes as combined/married so in short we dont really sell the property when it comes down to our combined Taxes... Any one know if i pay capital gains or not?
Dave-