All Forum Posts by: Christina Galdieri
Christina Galdieri has started 18 posts and replied 55 times.
Post: Capital gains start
- Posts 55
- Votes 17
Quote from @Michael Plaks:
Quote from @Christina Galdieri:
Question about capital gains. I purchased a lot in August of 2022. We put well, electric and septic on it in 2023 and now in 2024 we are putting a manufactured home on it. This will be my primary residence but I may want to move in a couple years as I would like more acreage. When would the 2 year rule commence? At the time the C/O is given to live in the mobile home? Thanks!
Thanks for the clarification!
Post: Capital gains start
- Posts 55
- Votes 17
Quote from @Christina Galdieri:
Quote from @Account Closed:
Hey @Christina Galdieri,
I am a bit confused on your question but in general:
If your asset is sold after 12 months from buying it, those gains are considered long term capital gains and taxed at a reduced rate.
If you mean two year rule as in the section 121 exclusion, you need to LIVE in the home as your primary residence for 24 months of the past 5 years from the date of sale.
I will live in it for 2 years but my question is when does that 2 years start- when the house is put on the property and I move in or does it start when I purchased the land? I’m assuming it’s after I move in. It’s almost a 2 year difference from the time I bought the land to the time when I’ll be able to move in. If I can sell it right away that is great but if it’s from the time I move into the home I have another 2 years to go and that will change my investment strategy entirely.
Post: Capital gains start
- Posts 55
- Votes 17
Quote from @Account Closed:
Hey @Christina Galdieri,
I am a bit confused on your question but in general:
If your asset is sold after 12 months from buying it, those gains are considered long term capital gains and taxed at a reduced rate.
If you mean two year rule as in the section 121 exclusion, you need to LIVE in the home as your primary residence for 24 months of the past 5 years from the date of sale.
I will live in it for 2 years but my question is when does that 2 years start- when the house is put on the property and I move in or does it start when I purchased the land? I’m assuming it’s after I move in. It’s almost a 2 year difference from the time I bought the land to the time when I’ll be able to move in. If I can sell it right away that is great but if it’s from the time I move into the home I have another 2 years to go and that will change my investment strategy entirely.
Post: Capital gains start
- Posts 55
- Votes 17
Question about capital gains. I purchased a lot in August of 2022. We put well, electric and septic on it in 2023 and now in 2024 we are putting a manufactured home on it. This will be my primary residence but I may want to move in a couple years as I would like more acreage. When would the 2 year rule commence? At the time the C/O is given to live in the mobile home? Thanks!
Post: Looking for a Cash out Refi on an investment property
- Posts 55
- Votes 17
Quote from @Alex Hunt:
Seasoning will be the hurdle for some lenders on this one. Did you put any renovation into the property? Happy to look at this one, love the FL market!
Post: Looking for a Cash out Refi on an investment property
- Posts 55
- Votes 17
Quote from @Jacob Sherman:
Yes there are options upto 80% cashout with no seasoning as long as it is rented and cash flowing even or better . no income no doc . What is the scenario looking like?
Post: Newbies: investing is not rocket science - don't let the gurus tell you otherwise
- Posts 55
- Votes 17
Hi Marcus- can you elaborate a bit more on what you mean by separating your equity investment from cash flow investment. Thanks!
Post: Asset Protection Attorney North Florida?
- Posts 55
- Votes 17
Hello!
Can anyone recommend an Asset Protection Attorney in North Florida? TIA
Post: BRRRR Mobile home?
- Posts 55
- Votes 17
I've been looking into this too since the area I am in is 50 or more 50% MHs. The only thing I ran into is getting insurance on it depending on age and condition. Look into that before you make any purchase.
Post: Question about the BRRRR Method
- Posts 55
- Votes 17
Thanks everyone!