Hello BP, I have a situation that involves my father in law who's a longtime investor with multiple free and clear small apartment buildings in a good market. We are looking for advice or an advisor that can help w the best strategy to reduce our tax burdens and maximize wealth opportunities. I also have a few properties myself And looking scale up.
Please respond or request an add so we can chat.
Thanks in advance!
Are you looking to optimize tax savings during operations or on a sale?
How long have the properties been under his ownership? How much depreciation is still being used to shelter rental income?
If you are looking to lower property taxes you could try to argue your latest assessment with the county.
If you are looking to lower taxes on sale you could roll into a 1031, but make sure you consult a CPA and attorney prior to attempting this...
You could also refinance. Debt is cheap right now.
Suggest you seek your advice from a CPA based on your current tax.