All Forum Posts by: Mindy Jensen

@Luka Milicevic, thanks for sharing some local places!

You're good here.

@Account Closed, discussion about starting a meetup is fine, but any announcement of a meetup can only be posted in the Events Forum.

www.biggerpockets.com/events

Thanks @Kyle J. I'm sharing this with the developers so they can figure this out.

@Sylvia B., we're getting intermittent reports of this issue, can you share your OS and Browser?

@Jason James, thanks for the head's up. Can you share your OS and browser? This is an intermittent issue, but frequent enough that we're diving into it. 

@Landon B., a Qualified Intermediary needs to take possession of the funds at closing in order to qualify for a 1031.

@Landon B., flipping a house does not qualify for 1031 exchanges. Also, if you took possession of the money from the sale, it would not qualify for the 1031. There are a lot of rules surrounding the 1031 Exchange. One of the 1031 peeps will surely chime in on this thread, too.

The money you made from this flip would be counted as regular business income, and taxed at your current income rate. Make sure to save receipts for all work done on the house, so you're not paying taxes on that amount.

Oh wow, that's too bad @James Masotti. We'll have to meet another time.

Oh my goodness. This thread is a mess. I have totally screwed up my description of the situation. Let me try again.

There is a unique property that I would like to buy. It is off market, with a verbal offer from someone else. That verbal offer has been verbally accepted, but nothing is in writing.

The offer was supposed to be in writing on Monday, and has not yet been presented. So I still have a slight chance. Fingers crossed. 

Thanks to @Adam Hoffer for the link to the offer to purchase - I think I'm going to do that to make it even more solid than just a LOI.

Huge thanks to @Steven Pool for reminding me of the GIS site. I lived in Wisconsin before, and just forgot about it.