All Forum Posts by: Scott Wolf

@Cyarnae Fields I would just sell the house.  To disagree with @Nathan Gesner, there is no need to go through the added 1031 process, fees, and timelines, since your gains will be tax-free due to section 121 of the IRS code.

@Sheri Lowrance, there's something on LoopNet in Fort Lauderdale.  Not sure if it's still available.  It's a 2 bed condo in a hotel, and the hotel can manage the rental for you.

@Gabriel Eisenhuth, if you need a connection to a DST provider, I can connect you with one. It's probably not your first choice, but definitely will save the taxes.

@Trey Rittenhouse, have you broached the subject of taking over his portfolio with seller financing?  It seems like a win-win.  He can get rid of his rentals and be private lender for you.

@David Matti, a bank will most likely be able to offer a lower rate, which can end up saving thousands or more over 30 years.

@Michelle Verdugo, shoot me a PM.

@Ari Hadar, paying $2,500 before loan approval is a huge red flag. 

Additionally, not sure what the project is, but 2-5% rates also seem extremely low.

@Carlos Albarracin outside of all the ways discussed on BP(HELOCS, seller finance, private money, 1031 etc.), there are SBA loans & IDA loans that can help businesses get to 80 or 90% LTV as opposed to the typical 70% for a commercial building.

I'm sure it's not 10K everywhere. It's the same story in NY. Westchester, & LI have killer taxes, the rest of the areas aren't so bad.

@Michael Plante, the IRS is the mafia.  They will get their money.

The real estate investors are either very good at having paper losses, or going to enjoy some time at club fed/get hit with hefty tax fines.