All Forum Posts by: Account Closed
Account Closed has started 20 posts and replied 72 times.
Post: Are gas stations a bad investment?
- Wisconsin
- Posts 76
- Votes 10
To put it simple for you @accountclosed. I love Tesla and their mission statement says it all. BUT, compare all of the companies that are selling gas combustible vehicles right now and still are! in comparison to the 2-3 EV manufacturers... I'm no Jay Leno, but at the end of the day I would much rather enjoy my V12 options if I were that rich.
Originally posted by @Bill Exeter:
Hi @Account Closed,
Yes, absolutely. There are really two requirements addressed here: (1) Qualified Use, which requires all of the relinquished properties and all of the replacement properties be held for some type of rental, investment or business use; and, (2) Like-Kind, which requires that all of the relinquished properties and all of the replacement properties be real estate. It is as simple as that, so any type of residential property (SFR, condos, duplex, multi-family) will be considered like kind to any type of commercial (office, retail, industrial, etc.). Real estate includes assets that you would not necessary think of such as air rights, water rights, mineral rights, and certain types of oil and gas interests. It is a very broad definition of Like-Kind that allows you to reposition your portfolio any way you wish.
Hey Bill,
I was reading this article and it emphasized on the relinquished value of the other properties being of same or over the value of the exchanging property. Will a 1031 exchange differ between states on the requirements and dispositions of the exchange?
How will this work for a portfolio?
Originally posted by @Alex Olson:
@Account Closed yes it is. Is your residential property an investment property? You opposed to sharing a bit more context?
Hey Alex,
Thank you for your response. Of course, its a residential 4 plex that I just purchased. I would like to 1031 exchange it for something larger like an 8 unit multi family. What is the first thing you would advise for future planning!
Originally posted by @Bill Exeter:
Hi @Karen Chenaille,
Unfortunately, no. The payoff of a mortgage or debt is not considered to be a purchase of real estate and will therefore not qualify for tax-deferred exchange treatment. You would have to actually acquire an interest in real estate that you do not already own.
Good morning Bill,
Is it possible to 1031 exchange a residential property to a commercial property?
Post: NNN Gas Station
- Wisconsin
- Posts 76
- Votes 10
Curious if you bought the property? returns?
Post: Owner occupancy - 4plex
- Wisconsin
- Posts 76
- Votes 10
Is there anyway to legally negotiate a lease without having to take someone through court. I want to do owner occupied, but I already have an accepted offer.
The seller is doing a 1031 exchange if that gives me any leverage at all.
Post: Would you be OK if your realtor had full sleeve tattoo?
- Wisconsin
- Posts 76
- Votes 10
@Henry Lazerow
I have a full sleeve and bump hardcore rap out of my lifted pick up yet everyone still enjoys me! Who cares to those that don't ones opinion shouldn't matter when you have hundreds backing you.
Post: Loan stacking consolidation
- Wisconsin
- Posts 76
- Votes 10
Hey everyone!
I hope everyone is enduring through this weird state of economy distress..
I have a question, Im looking for a lender that would loan on a home in secondary position. I have a loan that I would like to use but it requires to be in primary position.
If I do that, will I still be able to take equity after all is said and done?
Post: Converting a VA loan to conventional
- Wisconsin
- Posts 76
- Votes 10
@Sabrina Maples you could pull out equity from it? Cash out refi, hard money? While interest rates are low. What branch btw?
Post: Is college worth it ?
- Wisconsin
- Posts 76
- Votes 10
@Nathan Smith totally worth it