Awesome tutorial. Thank you. What if you identified the replacement property, but cannot close due to unexpected issues or was outbid? Any good strategy used to ensure that you don’t fail the exchange rules? Thx
Hey, great video! From what I understand the Depreciation does not restart especially if you have maximized your total depreciation, which for the single-family home is 27.5 years, and for the commercial building it is 39 years. So the original adjusted basis is what the depreciation is based upon. Please help me understand your situation. Thanks!
Can you make a video of how to pay of a property in 7 years. I have a hard time understanding it from so many view points but you make everything much simpler!
I AM RENTING. SEEMS LIKE I MUST BUY SINGLE FAMILY HOME FOR EQUITY. GOODNIGHT BEDTIME WILL CONTINUE TOMORROW. THANK YOU SO VERY MUCH. GOD BLESS . THERE’S NO WAY TO COPY THIS INFO. I MUST PURCHASE THE BOOK
Hi Petter I’m very interested in getting into the commercial investing as well as becoming one of your students .. how do I go about that ?? Pls and thank you
thank you for making commercial real estate easy to understand. very helpful. I have my reator license and not successful at getting clients and Im not really a agressive sales person. Maybe commercial will be more interesting then residential
TO START, IF YOU BUY YOUR 1ST RENTAL HOME, HOW LONG OR SOON CAN YOU SELL THAT SAME PROPERTY TO DO A 1031? DOES IT HAVE TO GROW EQUITY MEANING HAVE TO HOLD ON TO THAT 1ST PROPERTY FOR YEARS? GREAT VIDEO-- !🎉
Great video! If I have a 200k property with 50% equity and want to move the proceeds into a 1mn property would that be allowed to buy this by adding cash for the down payment?
my grandma lived in our family home for over 50 years. In 2014, my grandpa transferred the deed into my name for $1. To avoid capital gains, can I do a 1031 exchange if I had tenants in the basement (claim it as investment property) while my grandma was also living there? I was not living there when we had tenants.
Can I do a 1031 Exchange of my single family home and use the proceeds to purchase an apartment building with partners or syndications? Would I have to purchase an apartment complex by myself?
I really enjoy your videos Peter, but can I suggest a lapel microphone? Sound quality isn't great (content on the other hand is superb!). Please keep up with your informative videos, and thank you very much!
Hey Peter, I have some private investors(family ) that I need to pay off when I sell my house, do I have to move all of my equity into the 1031 exchange? I need about 30% of my equity to pay them back. Thanks
12:50. When calculating profit from the relinquished property, shouldn’t you also subtract the down payment you paid when purchasing that property? I assume that amount is not taxed as cap gains, so why would it be included in profit? 20:27. Also, wouldn’t another benefit of this scenario be that the depreciation is not just reset, but actually greater than before? So your AGI is now smaller due to a higher cost-basis, no?
Hi Peter, Does this 1031 exchange rule also applies to creative financing? I have noticed you are talking about 180 days taking a mortgaged? Please explain.
I have a rental house in California that I manage myself with 500 K equity. I feel California is at the top of the market. Are there reputable companies that assist with buying one or multiple properties in up and coming markets in other states? Do these companies charge a one time advisor fee, or ongoing management fees or both? What is your opinion of 1031 into a DST?
If you own an investment property 50/50 w/ a sibling partner, can you sell and use a 1031 exchange to transfer only your proceeds (50%) into another property?
Hi. So what happens if you net more than or less than 25% profit? Say if have 35% are you required to put down the whole 35% ? If not than what happens to the 10%?
Is the amount that you move froward to the new deal the difference of what you bought your property for vs. what you sell it for? Or, the equity that you have in the property? Thanks John
If you don't file a second mortgage of the down payment when you originally purchased, when you organize your 1031, the intermediary will include your original down payment as well.
Thank you for the education, it is extremely valuable. I have a question that hopefully you can answer. I purchase a rental in California in 2019 for $470, sold it for $569K and I did a 1031. I want to buy a million dollar home with a partner where the partner will own 30% which is 300K and I own 70% which is $700K, is this possible to do this?
THANKS FOR THE VERY VALUABLE INVESTMENT IDEA. WITH. A SBA LOAN I CAN FIND OUT HOW TO GET A LOAN TO PARK RVS MOBILE VEHICLES. BUT HOW CAN I. DO THIS WITHOUT COLLATERAL OR A HOME. MAYBE TAX LIEN PROPERTIES? I CAN ACQUIRE A HOME FOR COLLATERAL FOR RV PARK RV RENTALS?
If you continue to 1031 from property to property, you'll never have to pay any capital gains taxes nor will there be any depreciation recapture. However, if you ever sell (without doing a 1031), then there will be depreciation recapture.
@@CommercialPropertyAdvisors Thank you for the great content, I had a question... In your example with the single-family house, the original down payment that was put on the single-family house, would that have to get rolled into the new property? Being that it's not technically profit
I want to sale small grocery store, with a mortgage, and high taxes in Washington DC, worth 3.5 million, into four properties, with no mortgage, and increased income by 45 percent.
You passed the "primary residence 2 out of the last 5 years" rule and so therefore, when you sell your rental property (your former residence), you have to pay capital gains taxes. Further, you can't do a 1031 into a primary residence.
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Learn how to build wealth in real estate using a 1031 Exchange through our Protege Program: www.commercialpropertyadvisors.com/protege-program
Peter, Very Helpful! Your video provides Easy Explanation to understand complicating tax issues. 👍
The most clear explanation I have found on YT. Answered my lingering questions. Thank you!
Peter, you ate a truly a great talented teacher. Thank you for your clear way of teaching us.
THE INFO IS INVALUABLE HOWEVER I WOULD HAVE TO GO TO BED AND CONTINUE. TOMORROW. YOU ARE A GREAT MENTOR, TEACHER. I NEED TO DOWNLOAD THIS SESSON
I was just saying it would be cool if you did a video on 1031 and here we are lol
Thank you for this video it is excellent nicely explained extremely helpful again thank you.
Awesome tutorial. Thank you. What if you identified the replacement property, but cannot close due to unexpected issues or was outbid? Any good strategy used to ensure that you don’t fail the exchange rules? Thx
Best 1031 explanation I have ever seen. Thanks Peter for this video.
Hey, great video! From what I understand the Depreciation does not restart especially if you have maximized your total depreciation, which for the single-family home is 27.5 years, and for the commercial building it is 39 years. So the original adjusted basis is what the depreciation is based upon. Please help me understand your situation. Thanks!
Can you make a video of how to pay of a property in 7 years. I have a hard time understanding it from so many view points but you make everything much simpler!
Thank you! Great information
WOOWOO YEAH BABY PETER HARRIS KEEP UP THE GOOD WORK!!!!!!!
Very informative video. This video was done in the best method for me, a person with some basics of real estate investment to understand.
I AM RENTING. SEEMS LIKE I MUST BUY SINGLE FAMILY HOME FOR EQUITY. GOODNIGHT BEDTIME WILL CONTINUE TOMORROW. THANK YOU SO VERY MUCH. GOD BLESS .
THERE’S NO WAY TO COPY THIS INFO. I MUST PURCHASE THE BOOK
Hi Petter I’m very interested in getting into the commercial investing as well as becoming one of your students .. how do I go about that ?? Pls and thank you
thank you for making commercial real estate easy to understand. very helpful. I have my reator license and not successful at getting clients and Im not really a agressive sales person. Maybe commercial will be more interesting then residential
brilliant strategy
Great info! Do you have students in Los Angeles?
Great explanation. Thank you.
Perfect! Exactly what I needed!
TO START, IF YOU BUY YOUR 1ST RENTAL HOME, HOW LONG OR SOON CAN YOU SELL THAT SAME PROPERTY TO DO A 1031? DOES IT HAVE TO GROW EQUITY MEANING HAVE TO HOLD ON TO THAT 1ST PROPERTY FOR YEARS?
GREAT VIDEO-- !🎉
All sounds beautiful. But where can I find a 16 unit building for 750?????
Love your book on commercial real estate for beginners
Great video! If I have a 200k property with 50% equity and want to move the proceeds into a 1mn property would that be allowed to buy this by adding cash for the down payment?
Yes
my grandma lived in our family home for over 50 years. In 2014, my grandpa transferred the deed into my name for $1. To avoid capital gains, can I do a 1031 exchange if I had tenants in the basement (claim it as investment property) while my grandma was also living there? I was not living there when we had tenants.
Can I do a 1031 Exchange of my single family home and use the proceeds to purchase an apartment building with partners or syndications? Would I have to purchase an apartment complex by myself?
This was a great video. How can I become one of your students? BTW I love your book!
I really enjoy your videos Peter, but can I suggest a lapel microphone? Sound quality isn't great (content on the other hand is superb!). Please keep up with your informative videos, and thank you very much!
Great video Peter, Thanks! Did you have any depreciation recapture issues to deal with on the sale of the SFR?
Great video. Thank you ❤️
Hey Peter,
I have some private investors(family ) that I need to pay off when I sell my house, do I have to move all of my equity into the 1031 exchange? I need about 30% of my equity to pay them back. Thanks
Thank you - great video
Great teacher! Wonderful video. I would want to know if the 1031 exchange can be implemented in other region of the world like Europe, Asia, Africa
Most Excellent!
12:50. When calculating profit from the relinquished property, shouldn’t you also subtract the down payment you paid when purchasing that property? I assume that amount is not taxed as cap gains, so why would it be included in profit?
20:27. Also, wouldn’t another benefit of this scenario be that the depreciation is not just reset, but actually greater than before? So your AGI is now smaller due to a higher cost-basis, no?
You have to reduce the amount of the old properties capital gain from the amount of the new property for depreciation basis in the new property right?
Hi Peter, Does this 1031 exchange rule also applies to creative financing? I have noticed you are talking about 180 days taking a mortgaged? Please explain.
Ur videos are great, where to look for commercial real estate property, what is the starting point ?
Take this course: videocourse.commercialpropertyadvisors.com
I have a rental house in California that I manage myself with 500 K equity. I feel California is at the top of the market. Are there reputable companies that assist with buying one or multiple properties in up and coming markets in other states? Do these companies charge a one time advisor fee, or ongoing management fees or both? What is your opinion of 1031 into a DST?
If you own an investment property 50/50 w/ a sibling partner, can you sell and use a 1031 exchange to transfer only your proceeds (50%) into another property?
Hi. So what happens if you net more than or less than 25% profit? Say if have 35% are you required to put down the whole 35% ? If not than what happens to the 10%?
Is the amount that you move froward to the new deal the difference of what you bought your property for vs. what you sell it for? Or, the equity that you have in the property?
Thanks
John
If you don't file a second mortgage of the down payment when you originally purchased, when you organize your 1031, the intermediary will include your original down payment as well.
I'm just asking what if you’re buying a 1031 Exchange property 16 bedroom building for the first time, what do I do, Sir? ☺️😊🤔
Contact ipx1031.com
If you sell your personal home free of capital gains, can you use the proceeds to buy an investment property?
Can I sell foreign & buy another foreign properrty do I need to report or have to use 1031 exchange?
1031 Exchange is a US IRS code. You'll need to talk to your tax advisor as it pertains to non-US real estate.
Great
How is the property gain tax being applied when you sell a relinquished property and purchase 2 replacement properties?
Thank you for the education, it is extremely valuable. I have a question that hopefully you can answer. I purchase a rental in California in 2019 for $470, sold it for $569K and I did a 1031. I want to buy a million dollar home with a partner where the partner will own 30% which is 300K and I own 70% which is $700K, is this possible to do this?
Absolutely.
THANKS FOR THE VERY VALUABLE INVESTMENT IDEA. WITH. A SBA LOAN I CAN FIND OUT HOW TO GET A LOAN TO PARK RVS MOBILE VEHICLES. BUT HOW CAN I. DO THIS WITHOUT COLLATERAL OR A HOME. MAYBE TAX LIEN PROPERTIES? I CAN ACQUIRE A HOME FOR COLLATERAL FOR RV PARK RV RENTALS?
Do you have to pay back the depreciation after selling the first property?
If you continue to 1031 from property to property, you'll never have to pay any capital gains taxes nor will there be any depreciation recapture. However, if you ever sell (without doing a 1031), then there will be depreciation recapture.
@@CommercialPropertyAdvisors Thank you for the great content, I had a question... In your example with the single-family house, the original down payment that was put on the single-family house, would that have to get rolled into the new property? Being that it's not technically profit
I thought the 1031 had to be "like kind," so how is trading 5 small rentals for a big mix-used building with a starbucks "like kind"
Is it smart to go into a JV as your first deal?
Depends on who you JV with.
you with feerdom let me know if we are closing
I want to sale small grocery store, with a mortgage, and high taxes in Washington DC, worth 3.5 million, into four properties, with no mortgage, and increased income by 45 percent.
What about developing from scratch? Can I sell a property and 1031 exchange it in a new build?
So long as its bigger than the relinquished property.
we are closing down the shoolls for a cove 19 out
What happens if the three properties you identify get sold before you can close on any one of them?
Then you have a failed 1031 exchange
Where are you finding a property thats cashflowing 33k a year at only 750k..?
A 9 cap is solid
That's one of our strengths
Why can't I sell what used to be my residence (over 5 years ago) to buy a new residence if currently renting in a different state?
You passed the "primary residence 2 out of the last 5 years" rule and so therefore, when you sell your rental property (your former residence), you have to pay capital gains taxes. Further, you can't do a 1031 into a primary residence.
Is there a 1031 equivalent in Canada?
How do you protect this asset in case of an incident or you been sued?
Can you be more specific? What asset?
My personal assets or my properties under the 1031, and how can set this properties under a LLC?
Where do you get 16 Apartments for $750k?
Do you pay tax on the cash flow ?
45 days isn't very long to identify. I wish it was 90 days
Could I have a $500,000 house and exchange into two $300,000 houses?
Yes
SEE YOU TOMORROW. THANKS SO MUCH. I AM LEARNING A LOT, I AM A DIABETIC MUST GO TO BED.
Great explanation. Thank you.