27 May 2020 | 12 replies
This is usually done through trading up or refinancing, meaning they buy a 10 unit, then sell/refi and exchange into a 30 unit, then sell/refi and exchange into a 60 unit and so on.
20 May 2020 | 7 replies
Approx $300k in equity and the goal has been to 1031 exchange into a comercial property ~$1M.
23 May 2020 | 3 replies
I would fix it up, and 1031 exchange it into a property with separated out gas, oil, electric.
22 January 2018 | 1 reply
I don't want to string these guys out with a huge line of credit, but I also want to incentivize them to find better deals on materials and wait until the end of the project if there are exchanges and returns.2) Do you pay a certain percentage up front (20,30,40%) and then pay the rest at the end of the job?
25 January 2018 | 4 replies
My thought was to receive a condo or town home and dock slip for each of my family members (with all taxes and fees paid by developer) plus a monthly payment in exchange for the land use.
24 January 2018 | 4 replies
I will be doing a 1031 exchange on our rental property to increase our monthly cash flow.
29 January 2018 | 4 replies
I wont forget how amazed one of the agents who was showing me around Atlanta was when I introduced him to Waze a few years ago, which forecast a stopped car around the bend - and sure enough there it was :)I land up needing to call my US bank on a landline more often than I ever need to call my Iocal bank - (in fact come to think of it I never call my local bank) The solution is to find a cell package that includes foreign calls in the base price- and then you don't think twice when you need to call or for how long.
6 February 2018 | 8 replies
@Victor LebegueI like the first part of that agreement (being a handyman in exchange for some equity or profit sharing)I haven't heard as many arrangements for the second part (lending your credit to get 30 year notes) I'd recommend running that tactic by legal counsel to make sure you're not legally obligated if things went bad on specific properties or the company as a whole.
23 May 2018 | 10 replies
Jeremy Clarke my understanding is that you still have to pay the recapture tax even if you did not depreciate unless you 1031 exchange.
29 May 2018 | 6 replies
A prohibited transaction is a transaction between an IRA and a disqualified person that is prohibited by law.The transaction that you are describing would run afoul with some or all of the following prohibited transaction rules:Prohibited transactions generally include the following transactions:a transfer of plan income or assets to, or use of them by or for the benefit of, a disqualified person;any act of a fiduciary by which plan income or assets are used for his or her own interest;the receipt of consideration by a fiduciary for his or her own account from any party dealing with the plan in a transaction that involves plan income or assets;the sale, exchange, or lease of property between a plan and a disqualified person;lending money or extending credit between a plan and a disqualified person; andfurnishing goods, services, or facilities between a plan and a disqualified person.