All Forum Posts by: Account Closed

Hey all. My partner and I have a single family property under contract in Austin, TX. Our plan is to rehab and flip, then roll the profits into a 1031 to use on the next property and avoid capital gains tax for now. I was told by a CPA that I cannot do a 1031 on a quick fix/flip and that I would have to hold the property for a bit and rent it to properly perform the 1031.

I had always been under the impression I could do a 1031 in this situation. Thoughts?

Looking for a recommendation for a Real Estate attorney in the Austin area. Thanks.

Looking to have a GC or subs come in and do a preliminary rehab estimate on a single family home in south Austin. Basic cosmetic rehab but want to make sure my estimates are right and find a good GC or just subs to do the work. Rehab includes paint (internal and external), new floors (wood composite, not expensive and carpet), bathroom upgrade (counter tops, fixtures), kitchen upgrade (cabinet paint, fixtures, back splash). Any recommendations for GCs, sub contractors in these areas, or just handymen in Austin area?

Kelby K. I'm trying to determine my strategic level goals now, whether I want to start with a flip or rehab/rent. That's why I'm looking for a good group, just to listen, network and learn about the Austin market better. Feel like flipping might be a little tough right now for a guy just starting. Nasar Bhegani and Jason Carter thanks for the info, much appreciated.

I recently went to a meeting with the Austin REI club at the Domain expecting a discussion on Austin market trends but it turned out to be a guru pitch. I'm wondering if anyone recommends any good groups in the Austin area for networking and learning?

@Matt Lefebvre, yes I've used my VA loan in the past and plan to use it again. Im looking for the lease option for peace of mind. With a new job that is commission based, new city and new baby, I'd like to reduce risk for at least a year until I get more comfortable with my new lifestyle. I don't want to rent and feel like a lease option would give me a year or so to get familiar with my new role without the pressure of ownership but give me the ability to put my money towards a home I will own in the future.

Hey everyone! I'm looking to find someone in the southern NH (Nashua-Salem) area or northeast Massachusetts area who would be willing or knows someone who is willing to lease option a property to me. Looking for a 4 bedroom single family.

I'm a transitioning Army Officer leaving Texas and starting work in Boston. My wife and I just had our first child and while we want to buy a home in the area, I'm concerned because I'm starting a whole new career in a whole new area. Funds are not an issue but I'm starting a commision based technology sales job and would prefer the security of a lease option until I feel more comfortable in the job. Thanks everyone.