All Forum Posts by: Nina Rivera

Any witty ideas on how to get residents out of a property won in a tax sale? I don’t mind giving a few bucks for a mover and some extra for them. Need a strategy on approaching property. Ty!!!

Ty guys! I appreciate your help!! These forums help so much.

Ty guys!! I appreciate your help! These forums help so much. 

I’m about to close on my first flip. I want to take about half of the proceeds and reinvest it in a new property. The turnaround should be quick. Can I put half the proceeds in a protected 1031? Or does it have to be the entire profit? I’m hoping to be taxed on what I am NOT putting in the 1031. I understand that I am deferring taxes and not getting out of them altogether, when it comes to the other half. And can you refer me to a company that does that in NJ? Thanks

Ty!!

Thank you!

Hello, yes it’s a pure investment as I am not residing there. If I do a cash out prior to sell, I will only pay capital gains on what the profit is at the time of sale, correct? So let’s say I leave $30k in the property, then I should be paying the capital gains on that $30k?

Question…is it possible for a cash out refi to be completed on a home that was closed under six months ago? I have searched and found the answer to be no. But wasn't sure if there were lenders out there that would consider it. Have a SFH purchased for 100,000 with 20% DP. Loan balance of $80,000. Appraisal shows home valued at 199,000. Would like to get my money now via a cash out and pay smaller capital gains on selling day. Any info is very appreciated. Ty!