All Forum Posts by: Jeffrey Chang

@Jay M, Thank you for your explanation!  I guess that's how at the end of the holding period you only get what you put in?  One of the previous poster wrote if you put in 100K you get back 100K at the end of the holding period.

@Jay M, If I have $100K to invest into 1 DST I will have to pay $8-9K out of pocket? Who do I pay this to? I spoke to IPX1031 in my area who will charge $1000 to sell and $200 to buy into 1 DST. Thank you.

I appreciate your input.

I am still confused...

My understanding is that I must have lived at my condo at least 2 years out of 5 years in order to avoid capital gains tax.  I already lived here 9 years which satisfies 2 years.  So it sounds like I can rent out more than 3 years and still avoid tax?

This was my primary condo so if I have a buyer than I wouldn't have to rent it out and I will eventually need the money from the sale of this condo.

Thank you.

Hello.

I have a condo that I lived in for 9 years.  I put it up for sale, but after 6 months it's still sitting on the market.

If I take it off the market and rent it out instead do I have to pay for capital gain tax when I sell it?

I understand that capital gain tax can be avoided if I lived in this property as primary residence 2 years out of 5 years.

Doesn't this mean that even if I rent it out for 3 years and then sell it I would not be subjected to capital gain tax?

Thank you for your input.

Thank you for your input.

I certainly want my tenant to live as long as possible and so I don't want to restrict my tenant from hanging things on the wall.

What about the anchor nail size holes in the wall?  

What about the dirty wall?  I am not talking about small areas that need touch up.  I literally had to paint the entire house and it costed me $1,100.

Hello.

I am a newbie with rental properties and currently have a few.

I am uncertain what is considered a normal wear and tear when tenant moves out.

My lease states tenant should leave the property in "ready to move in" condition as they moved in.

When my previous tenant moved out there were several holes in the wall ranging from nails to anchor size holes. Walls were dirty and would require painting to get it to "ready to move in" condition.  

What level of dirty wall and holes in the wall do you consider it normal wear and tear?

If you end up getting some or all walls require paint touch up or painting do you deduct this cost from the security deposit?

Thank you.