First experience in real estate.

1 Reply

Investment Info:

Condo other investment in La Mesa.

Purchase price: $340,000
Cash invested: $500
Sale price: $404,000

Purchased with FHA as our first home. Made small upgrades while living in home; custom bar in dining room. Sold two years later to avoid capital gains.

@Jesse Bartlett-May

Jesse, your long term capital gains tax should have been 0% if you hold for at least a year and your gain is approximately <39K (single) and <78K (married).

Then from those numbers all the way up to the mid or high 400K you're at 15%.

Of course, you could defer any cap gains tax by partaking in a 1031 exchange.

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