All Forum Posts by: Michael Hajduk

Your total expenses seem extremely low.

What is the overall opinion of Royse City? I know it's a bit further out, but doesn't seem as saturated as Rockwall.

Also, keep in mind that you will still have to recapture the depreciation from the 3 years it was a rental. You lump sum isn't *totally* safe. Much better than taxes though!

His math is off by 13 cents, or in other words, a fielder's choice rounding.

Originally posted by @Paul Allen:

@Michael Hajduk how much CG are we talking about?

 Around 30k after capital improvements... but then I have depreciation recapture of around 30 as well.

Thanks for the kind words and the help!

Originally posted by @Ashish Acharya:

Michael, You will qualify for the exclusion. There are two facts that support your qualification.

Thanks! I *could* do a like-kind exchange, but it would be for less, so the amount I'd actually save surely isn't worth the hassle when I don't even have to worry about it.

Yes. 

I understand I get a 10-year "pause" to the rule. I am selling in well within that period. 

I need to know if the IRS is going to base my eligibility on the time I physically resided there, or the time before I knew I wasn't moving back and thus converted it to a rental.  One of those numbers is under 2 years, the other is over 2 years.

Hi, I was wondering if anyone out there has experienced this scenario before. 

I physically resided in my primary residence for 22 months, then was sent out of state for a year-long training course. I fully expected to return to my house. About 6 months into the course, I found out I was not returning to my city, but instead being sent overseas. At that point, I put it into service as a rental, hired property management, rented it out, and started claiming rental income and losses, etc.  

If I otherwise meet the 2/5-year rule, am I able to exclude capital gains on the sale of this home? For 28 months I would have told anyone that was my house, and I can provide documentation to the IRS if need be. I have a CPA checking into this for me, but I wanted to see what everyone else thought too.

Thanks!

How long would the projected vacancy last? Is that lost income worth the reputation hit? You will never win over any public opinion should the daughter choose to make a fuss. Show a good will gesture, and end the lease whenever she gets all his belongings out.

As a dabbler in programming and scripting for efficiencies at my 9-5, I started using a SDK called Pythonista on my iPhone. It has 2.x and 3.x versions of Python, a console, and some iPhone specific UI and sensor packages. For instance, you can access accelerometer and GPS data. You can also build custom apps without having to learn Swift.

I've been working on a personalized calculator to screen potential real estate deals with my own criteria. As I've used it, I've slowly added the ability to customize from within the app, instead of in the code. It's starting to become something I think other people might find handy too.

I know there's no shortage of calculators out there, and even here on BP, but this app has certainly made things a lot faster for me.

I was just curious if any of you happen to be familiar with Pythonista... maybe we could collaborate? I'm interested in making it available for free here, but if it gets good enough, I might spring for the license from Apple and compile it for the App store.

Welcome to BP! I'm in Cambridge for another year or so, but investing in US real estate. I have looked at some properties here, but as an American, the credit requirements are hard to meet, so I imagine you'll experience similar difficulties. In my research, there are definitely affordable investments here, buy you'll just have to forget about London, Cambridge or Oxford for a while.

Best of luck!