All Forum Posts by: Alex Olson

Thank you so much for your answers guys. 

@Charles Carillo So I can sign all forms digitally or meet a notary at a US embassy? Do you have experience with how smoothly it works to schedule these processes? I mean, what to do when the notary's next free appointment were in a few weeks and I want to buy a property now or the seller wants to sell fast?

I'm not looking for a turnkey and I'd rather divide the tasks among several companies. I'm still researching, but Kansas City, Milwaukee, or Pittsburgh seem interesting to me and I want to focus on SFHs. It's hard to pick when you can choose between all those markets. I'd be thankful for any other suggestion.

Speaking of CPAs/attorneys, I thought there were two simple options: To pay 30% WHT or get treated as a US citizen and I could freely choose between. And our double taxation agreement is very clear at this point and says income from real estate may be taxed where the property is situated. Have I overlooked something? Anyway, I think you're right and I should look for someone who accompanies the project on the legal side. Do you think I should do that upfront?

@Lassy G. an LLC is essential in this case? Would you set it up before or after the purchase?

We bought a place about 2.5 hrs from us. 340k. Spent about 50k in the past six months to fix it up. Our mortgage is about 1600/mo on the 340k.  We could probably rent it for 2200 pretty easily.  I think I could sell it for 585k.  We were planning to flip it but are worried about taxes.  What are taxes on a flip?
We would love to keep it and I think a second might be the best option to pay off the repairs and lower the monthly payments (credit cards are getting maxed).  We got a great rate on our mortgage so mortgage gal thinks a second is best.   Then rent for a bit?  But I need to convince my partner it pencils out. Any ideas on options?  Worried the markets gonna slow down soon and it won’t appraise at 585k if we refi’d in a year... prices have shot up like crazy in the past six months!!  Also afraid we won’t ever be able to afford another place with the way property has shot through the roof here.   New at flipping and renting... 

I am trying to set up a deal whereby a few vacant lots in a subdivision are exchanged for a house of similar value. Is there a way to set this up without selling each property, but using some sort of direct swap? Preferably we would like to structure this so that reduces or eliminates the tax liability.

Hello

I would like to know how does the taxation work when selling an owner occupied Duplex.

There are two scenarios here,

1) The rental unit has similar square footage as the owner occupied unit.

2) The owner occupied unit has more square footage for example it’s double the square footage of the rental unit.

How does the taxation work in both scenarios? Is 1031 exchange still worth it in scenario # 2

Appreciate your inputs.

Thanks

Hello my name is John and I’m just starting my real estate journey. I’m a 29 year old maintenance tech. I’d like to meet investors in Kansas, preferably Topeka or Lawrence area who’d be willing to meet and let me pick their brain about starting out