All Forum Posts by: Matt Hilliard

Hi @Zachary S. Pitts

Thanks for responding. My wife and I are out of the country right now, but we’ll plan to give you a call first week of October to discuss more about Louisville.

Regards, Matt

My wife and I are seasoned real estate investors and are looking to expand into the Louisville market. We generally like to work with real estate agents that invest in real estate themselves. Hoping to find a good agent that has good knowledge of real estate and the rental market in the Louisville area as well as contacts for Handyman Contractors, etc. if we do end up investing in the area.

Any suggestions on a great real estate professional you’ve worked with in the past in Louisville would be much appreciated!

Matt

Thanks again everyone,

My accountant and I did some more research and we did find that if you 1031 exchange out of Oregon into another state you can do that once.  You just need to file along with your taxes each year the Oregon form OR-24 and the federal form 8824 and that tells Oregon each year if you still own the replacement property outside of Oregon or if you have sold it. 

 Thanks @Josh Lewer for pointing out the OR-24 form as thats what prompted us into looking further into this option.

This is great news for us and thanks again for everyone's feedback!

Matt

Thanks everyone for your Input!  I have another call scheduled with my Accountant tomorrow to clarify if this tax is a depreciation clawback that Oregon will want to get back from us and I also have some feelers out to some CPA's in Oregon so hopefully I will get some clarification soon.

I appreciate all your time in responding to my question!

Matt

@Dominic Mazzarella

Thanks so much for your reply, much appreciated!

@Bill B.

Thanks so much for your reply, I will reach out to Dave Foster to see if he’s willing to comment on my question

@Aristotle Kumpis

Thanks so much for your reply, much appreciated!

Hello Bigger Pockets family

My wife and I are selling a single-family rental property we’ve owned for 18 years in Portland Oregon. We want to do a 1031 exchange and buy a property outside of Oregon. We’re told by our accountant that we would be on the hook For up to $34,000 in taxes based on the fact that we 1031 exchanged into this property 18 years ago and all the depreciation recapture, etc.

Does anyone have any recommendations on strategies for limiting what Oregon will claim that we owe them after the sale of our property and successful 1031 exchange out of state?

Our proceeds from the sale will be around $150,000 that we will exchange into another property and State and we would have to come up with that $34,000 tax bill from somewhere out of our own pocket during the 2025 tax season

Any help/ tax strategies for avoiding some or are all of this would be much appreciated!

Matt

I own a rental property in Brattleboro and am always looking to make new contacts in the area. I live out of town so would be interested in a Zoom meetup if one comes together.

Thanks everyone for the input and contacts.  @Kevin Wilson what draws me to Pittsburgh is that it seems to have a certain Edge to it.  It's seems to be forward thinking city and has a lot of artistic/creative people that seem to be drawn there.  It's also a place that I would consider living at some point.  It is also a large metropolitan city but still seems to have some affordability when it comes to investment property.  I look forward to getting to know Pittsburgh more through my property search.

Matt