All Forum Posts by: John Pelaez

@Ashish Acharya the property sold was a SFR rental. I used it as my personal residence from 2009-11 and rented it from late 2009- till July 2018.

I recently bought a duplex and am going to rehab one of the units. It should cost me around 5-8k to do so. In the mean time I sold a property and profited about 38k. I know i will have to pay taxes on the 38k. My question is if i use at least 7600 (20% of 38k)on the rehab of the duplex unit, would that negate my capital gains tax obligation?

if you have used the 1031 repeatedly and have obtained a large amount of properties from it, are you liable for the taxes you didn't pay if the 1031 exchange law gets revoked?

I looked this up about a week ago. I cant find the document or reference I saw but you could just Google grand rapids building inspection or housing requirements and find something.

Can you, the owner of a property, get sued by a tenant even though the property is being professional managed by a third party company? I ask because I'm toying with the idea of transferring my property into an LLC. However, if my property was still in my name, but the property was managed by a PM LLC ( that I just so happen to be a member of) would I still receive liability protection? I hope I explained this well.

Lake Michigan Credit Union is  a Portfolio Lender.

Well, now here's my thread. I'm in the muskegon market. I live here and I just bought my first property. I'm actively looking. I had no idea about a meet up. May I attend? I dont know any other investors in the area?  But I would be happy to grab a cup of coffee and chat if anyone is up for it.

Greetings. I'm here not too far from you.

Originally posted by @Juanita Briggs:

Hi Doug! I too am a newbie in Michigan- the grand Haven area. I am interested in discussing how u found your duplex or did u build it. I would like to find a multi to buy and hold. Let me know if u are interested in haveing a discussion. Thank-you

 hello to both Juanita and eric. I'm new here too. I'm currently looking around in the Muskegon area. What's your strategy for the Grand Haven market?

hey Chris, I'm pretty new here too. I'm in the muskegon area. I'm interested in the kalamazoo area but I dont know it very well.