All Forum Posts by: Mark Creason

@Paul Moore

Thank you for the recommendation.  I would be happy to discuss DSTs with Vladimir.

Mark

@Celia Moore

I do believe that an owner staying in their vacation house doing upkeep or maintenance would not count towards that 10% or 14 days.  Might be useful for someone who owns a vacation property to keep track of their upkeep schedule.

Mark

@Kris Rudge

You friend might be eligible for Section 121 treatment on the property.  If he lived in it 2 of the last 5 years, he might be eligible.

Mark

@Brendan McCashin

The test will cover mostly real estate process.  I would take the 3 courses and when you have a test setup, take a good cram course.  The cram course is what you need to take to pass the test.  

Mark

@Percy Matsunaga

Trump has signed an executive order to add an inflation adjustment to the cap gains.  Although this may be wishful thinking, but the President enforces tax law, but does not create it.  If you may recall watching school house rock as a kid, tax bills are first created in the House and then sent to the Senate, and when approved, go to the President for his signature.

Real Estate has a lot of great incentives to make lots of money.  We have depreciation, Section 121 principal residence exemptions, the 1031 exchange, installment sales, cost segregation, capital gains, and others.  If we keep pushing the envelope, one day, we will have a "Bernie Sanders" come in and take all this away.

Mark

@Steve Morris

https://www.ipx1031.com/ipx1031-president-meets-chairman-brady-save-1031-exchanges/

https://irei.com/publications/article/1031-exchange-survives-tax-reform-roller-coaster-year-ends-tax-code-changes-favorable-real-estate-investors/

http://1031-exchange-news.com/2017/11/

Kevin Brady wanted to eliminate the full 1031 exchange with Trump's support.  He only got the personal property exchange killed because the real estate community made many calls to house and senate members to save the real property 1031.

In 2017, we were worried that Kevin Brady (Chairman of House Ways and Means) wanted to kill the 1031 exchange.  Somehow it was saved, but they did eliminate the SALT deductions.  We are now capped at 10,000 deduction on principal home taxes.  I think we need to save the 1031.  I think trying to blame Democrats is not helpful, as the Trump administration has tried to kill it already.  I think the real estate community needs to contact our reps and senators to let them know we want to keep this.

Mark

I recently read a report showing that Self Storage is currently defaulting on about .1% of self storage loans. Industrial is at about .4% nationally. Both of these classes are doing very well post Covid. Buying a DST is about buying the right DST.

@Nat C.

Sounds like this is not a flip property.  I think it has a pretty good chance to be a 1031 candidate.  What does @Dave Foster have to say?

@Matt Carozza

You may be at a 0 cap gain on your deal, but if not, you could potentially invest in an opportunity zone fund.  You would have to accomplish this within 180 days of your close.

Mark