All Forum Posts by: Terry N.

@John Morgan so you are $160 in but have a mortgage for $150k?

The property cash flows even after the refi note and expenses?

Thx. T

How do you use your iPad in your investment day to day life.  Apps, diagramming software, analysis, storage, networking, any input appreciated.

Thanks!

I recall a BP podcast guest saying that a management company should be a member of X organization.  A professional membership. But can't find that podcast and can't recall the organization.  Anyone have that info?  Thx! 

"Fed tax reduction from remaining passive activity loss to offset ordinary income" - How does one calculate this?  Thx..

Would anyone be willing to add a couple more descriptions on this analysis?  Couldn't figure out how there were arrived.

Net Adjusted Basis = $301,546?

Gross Capital Gain = $256,454?

Accumulated Passive Losses to date = $157,000 (were these accumulated over the 12 years?)

Why are you paying California state taxes if the property is in NY? 

I've never sold a rental property but am thinking about it.  Should I expect to pay a tax expert to give me a more accurate sense of my situation?  Would be nice to be able to figure it out myself but not feeling so great after not understanding most of this analysis.  

If the properties are in NC and Mich but I live in NYC, should I expect to pay NYC taxes of Net Property gains?  

Thx.  

When paying Capital Gains, do you pay both Federal (15%) and State (?-varies by state?)

I know, 1031 and defer...but thinking about keeping options open as to how to re-deploy...

Thx.

Thanks for that excellent feedback @Dave Foster

Oh, I didn't state that I'm wondering if any of the proceeds from sale can go toward renovations of subject property... (the $70 or $20K)...