10-31 may be coming to a end for bigger investors

Rental Property Investor · Gilmer tx · Member since 2018 · 87 posts · 21 votes

Would Imagine someone has already posted about this . I just hopped off a zoom call with my CPA . Biden is enforcing a law To put a stop to the 10-31 exchange if the sale of the property is over 500k .

Something tells me he is just doing this to piss off Trump.

Wanted to here some other Opinions on this

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Spencer Gray

Syndication Expert and Investor · Indianapolis, IN · Member since 2016 · 591 posts · 808 votes

The $500k cap has been proposed, I doubt it will happen - there's just not the political will. Democrats own real estate too!

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Spencer Gray
Syndication Expert and Investor · Indianapolis, IN · Member since 2016 · 591 posts · 808 votes
5y
The $500k cap has been proposed, I doubt it will happen - there's just not the political will. Democrats own real estate too!
4 Reply
Bjorn AhlbladPro Member
Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes
5y
Worse is what they are doing about taxing inheritance and destruction of family wealth. Talk to your CPA.
0 Reply
Mindy JensenPro Member
BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes
5y
Biden is PROPOSING a change to the 1031 laws. You said he is enforcing this change. Big difference.
Most laws get proposed, then change dramatically before being turned into law. This is another one that will be changed dramatically before being enacted.
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Steve Vaughan
Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
5y
Originally posted by @Mindy Jensen:
Biden is PROPOSING a change to the 1031 laws. You said he is enforcing this change. Big difference.
Most laws get proposed, then change dramatically before being turned into law. This is another one that will be changed dramatically before being enacted.

Correct. Its also a proposal to limit deferral on gains over $500k, not sales over $500k.

Big differences. But then again, details aren't important to the OP obviously. Great title.
2 Reply
Jeffrey Donis
Investor · Durham, NC · Member since 2020 · 1k+ posts · 691 votes
5y
@Ty Ottaberry I heard about this policy proposal when he was running, however, I do wonder about its political feasibility. I guess we'll see!
0 Reply
Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
5y
Originally posted by @Spencer Gray:
The $500k cap has been proposed, I doubt it will happen - there's just not the political will. Democrats own real estate too!
exactly what my CPA said Dems own property to..

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Bill F.
Investor · Boston, MA · Member since 2015 · 1k+ posts · 3k+ votes
5y
Originally posted by @Ty Ottaberry:
Would Imagine someone has already posted about this . I just hopped off a zoom call with my CPA . Biden is enforcing a law To put a stop to the 10-31 exchange if the sale of the property is over 500k .
Something tells me he is just doing this to piss off Trump.
Wanted to here some other Opinions on this

If I were in your shoes, I'd sell all my RE as fast as I could and buy Dogecoin. After all, a proposed end to 1031 exchanges obviously means RE investing is now akin to owning a company that makes horse and buggy whips. Get out while the getting is good.
1 Reply
Ty Ottaberry
OP
Rental Property Investor · Gilmer tx · Member since 2018 · 87 posts · 21 votes
5y
Originally posted by @Bill F.:
Originally posted by @Ty Ottaberry:
Would Imagine someone has already posted about this . I just hopped off a zoom call with my CPA . Biden is enforcing a law To put a stop to the 10-31 exchange if the sale of the property is over 500k .
Something tells me he is just doing this to piss off Trump.
Wanted to here some other Opinions on this

If I were in your shoes, I'd sell all my RE as fast as I could and buy Dogecoin. After all, a proposed end to 1031 exchanges obviously means RE investing is now akin to owning a company that makes horse and buggy whips. Get out while the getting is good.

Regardless, real estate is still 10,000 times more powerful when it come to building wealth (on purpose) lol. That will never change. when real estate crashes the smart ones get richer. I dont gamble when it comes to my wealth. Investing in currencies & the stock market is the same as playing slots in vegas.
0 Reply
Bill F.
Investor · Boston, MA · Member since 2015 · 1k+ posts · 3k+ votes
5y
Originally posted by @Ty Ottaberry:
Originally posted by @Bill F.:
Originally posted by @Ty Ottaberry:
Would Imagine someone has already posted about this . I just hopped off a zoom call with my CPA . Biden is enforcing a law To put a stop to the 10-31 exchange if the sale of the property is over 500k .
Something tells me he is just doing this to piss off Trump.
Wanted to here some other Opinions on this

If I were in your shoes, I'd sell all my RE as fast as I could and buy Dogecoin. After all, a proposed end to 1031 exchanges obviously means RE investing is now akin to owning a company that makes horse and buggy whips. Get out while the getting is good.

I dont gamble when it comes to my wealth. Investing in currencies & the stock market is the same as playing slots in vegas.

No truer words have ever been spoken. The likes of George Soros, Seth Klarman, Warren Buffet are practically indistinguishable from the degenerate gambles haunting the Vegas strip at all hours with their bucket of quarters. Glad you sewed that up so quickly.
RE Investors= Smartest investors in the World, holders of the great secret truth.
All other Investors= hapless rubes who are no different from those gambling away their rent money at the dollar blackjack table.
0 Reply
Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
5y
Originally posted by @Ty Ottaberry:
Originally posted by @Bill F.:
Originally posted by @Ty Ottaberry:
Would Imagine someone has already posted about this . I just hopped off a zoom call with my CPA . Biden is enforcing a law To put a stop to the 10-31 exchange if the sale of the property is over 500k .
Something tells me he is just doing this to piss off Trump.
Wanted to here some other Opinions on this

If I were in your shoes, I'd sell all my RE as fast as I could and buy Dogecoin. After all, a proposed end to 1031 exchanges obviously means RE investing is now akin to owning a company that makes horse and buggy whips. Get out while the getting is good.

Regardless, real estate is still 10,000 times more powerful when it come to building wealth (on purpose) lol. That will never change. when real estate crashes the smart ones get richer. I dont gamble when it comes to my wealth. Investing in currencies & the stock market is the same as playing slots in vegas.
NOT ALWAYS 2008 to 2012 cleaned many SMART investors clocks with billion dollar development and syndicators going busto .
in a crash for sure those with Cash and not afraid to pull the trigger will do well.. Highly leveraged to their eye balls landlords wont be partaking.

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Ty Ottaberry
OP
Rental Property Investor · Gilmer tx · Member since 2018 · 87 posts · 21 votes
5y
Originally posted by @Jay Hinrichs:
Originally posted by @Ty Ottaberry:
Originally posted by @Bill F.:
Originally posted by @Ty Ottaberry:
Would Imagine someone has already posted about this . I just hopped off a zoom call with my CPA . Biden is enforcing a law To put a stop to the 10-31 exchange if the sale of the property is over 500k .
Something tells me he is just doing this to piss off Trump.
Wanted to here some other Opinions on this

If I were in your shoes, I'd sell all my RE as fast as I could and buy Dogecoin. After all, a proposed end to 1031 exchanges obviously means RE investing is now akin to owning a company that makes horse and buggy whips. Get out while the getting is good.

Regardless, real estate is still 10,000 times more powerful when it come to building wealth (on purpose) lol. That will never change. when real estate crashes the smart ones get richer. I dont gamble when it comes to my wealth. Investing in currencies & the stock market is the same as playing slots in vegas.
NOT ALWAYS 2008 to 2012 cleaned many SMART investors clocks with billion dollar development and syndicators going busto .
in a crash for sure those with Cash and not afraid to pull the trigger will do well.. Highly leveraged to their eye balls landlords wont be partaking.

heck yeah .
So what do you think you could have done diffrent to prevent that from happing ?
Would it have been possible for you to have had fixed intrest rates on every thing ?
0 Reply
Ty Ottaberry
OP
Rental Property Investor · Gilmer tx · Member since 2018 · 87 posts · 21 votes
5y
Originally posted by @Mindy Jensen:
Biden is PROPOSING a change to the 1031 laws. You said he is enforcing this change. Big difference.
Most laws get proposed, then change dramatically before being turned into law. This is another one that will be changed dramatically before being enacted.

My mistake . i
Im not alway right It was a bit unclear to me ,that was the reason for starting the post to understand more about what i heard .
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