All Forum Posts by: Yonah Weiss

Here is also a great BP article on some implications of the proposed tax plan by @Brandon Hall

 Key Changes in the Trump Tax plan

@Dave Foster Thanks for the breakdown of 1031's.

@Patrick Murphy Best of luck! I am a big fan of 1031 into NNN long term leases. Very passive investment, and a great way to plan for retirement.

 Well said. I appreciate your sensitivity, and I couldn't agree more. Often in the business world we tend to only think of ourselves, and what we can get out of it. And forget that people have feelings, and true business is really about being aware of that.

I used to be part of a Real Estate agency called Synergy RE (inspired by Stephen Covey), and on our business card was a logo of two people intertwining (an artsy kind of drawing).  I once gave my card to an agent representing the other side of the transaction, and he was surprised at why I didn't have a logo of a house or property. In his words, "what do people have to do with real estate?" 

We can never lose sight of the fact that people have everything to do with our business.

@Sridhar Sannidhi Was that property in India your primary residence? If so, it would be excluded.

Also, I believe you only have 45 days to identify a second property. So if three months have passed, you may have missed your opportunity this time. Speak to an expert to make sure.

Likewise, you may only exchange a foreign property with another foreign property, and not a property within the US.

You can try www.madison1031.com/ for more specifics. I have dealt with them, they are extremely knowledgeable, and amazing customer service.

Are you looking for a local CPA? Are you considering investing out of state as well? If so, I have a great CPA recommendation, but not located in CA. @Daniel Hyman , CPA and his firm My Online Accountant, LLC 

As well as Alan Tsarovsky, CPA www.taxadvisorygroup.com/ located in So. CA.

Both are knowledgeable about real estate, and very good people. If you end up speaking to them, send my regards. Best of luck!

@Oleg Korolov I have a good relationship with Inna Khayut, CPA at KATZ, KHAYUT & STROLL, LLP

As well as Alan Tsarovsky, CPA www.taxadvisorygroup.com/

Both are knowledgeable about real estate, and very good people. If you end up speaking to them, send my regards. Best of luck!

Do you own an investment property worth over $500,000? Are you taking advantage of your tax benefits.

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Thanks @Mindy Jensen. The Ultimate Beginner's Guide to Real Estate Investing is the perfect read to answer my question. I have only just begun.

Thanks for the advice @Jimmy Murray. I guess I am just interested in too many things.

I have recently found BP, and soon after went PRO. I see and hear from all that there is so much to offer on BP. But how do you focus, and utilize the different venues/tools/resources etc. without getting a BP overload?

I suppose if I had a very specific goal in mind I could focus more.