1031s are a great tool but call your political representatives ( don't ever call them leaders LOL ) and get them to bring back 100% bonus depreciation. The commercial market needs incentives to recapitalize these markets. Toby, this was a great primer on the basics of the 1031exchange!
I purchased a house 20 years ago $90k and paid it off. Its now worth $325. About 5 years ago I purchase a new house. But I never rented the old house. ( Sounds like that doesn't matter with capital gains ) Question is Can I buy a new house, Rent it for 6 months to a 1 year & Then sell my home im in now ( won't have pay capital gains ) & Then move into the home i was renting. Let's say for about 5+ years. Would I have to pay Capital gains ? Or if I lived there for the rest of my life and had it in a trust. Thanks
It sounds like you're exploring some interesting options regarding capital gains. It might be a good idea to consult with my team to get a clear understanding of the implications. aba.link/sc7
I was trying to sell my rental and buy a property I built for rental. I was told you could not buy a property from yourself. What do you recommend. Thank you
Great question, to assist you further, I highly recommend you request a free 45-minute consultation to discuss this with my team so we can provide with you an answer that is unique to your situation. Visit: aba.link/sc7
Great question, to assist you further, I highly recommend you request a free 45-minute consultation to discuss this with my team so we can provide with you an answer that is unique to your situation. Visit: aba.link/sc7
If you want to dive deeper into this topic, schedule a free consultation with my team today. Visit: aba.link/sc7
1031s are a great tool but call your political representatives ( don't ever call them leaders LOL ) and get them to bring back 100% bonus depreciation. The commercial market needs incentives to recapitalize these markets. Toby, this was a great primer on the basics of the 1031exchange!
Glad you enjoyed the content!
Very informative.
Great video, Toby!
I appreciate your support, it means a lot to me!
How much does a QI usually charge for handling this transaction?
I purchased a house 20 years ago $90k and paid it off. Its now worth $325. About 5 years ago I purchase a new house. But I never rented the old house. ( Sounds like that doesn't matter with capital gains ) Question is Can I buy a new house, Rent it for 6 months to a 1 year & Then sell my home im in now ( won't have pay capital gains ) & Then move into the home i was renting. Let's say for about 5+ years. Would I have to pay Capital gains ?
Or if I lived there for the rest of my life and had it in a trust.
Thanks
It sounds like you're exploring some interesting options regarding capital gains. It might be a good idea to consult with my team to get a clear understanding of the implications. aba.link/sc7
Who are the Qualified Intermediaries, and how do we look them up?
To get the best answer tailored to your specific circumstances, I recommend scheduling a free consultation with my team. Visit: aba.link/sc7
I was trying to sell my rental and buy a property I built for rental. I was told you could not buy a property from yourself. What do you recommend. Thank you
I recommend setting up a free consultation to discuss some strategies and how they apply to your unique situation. Sign up here: aba.link/sc7
What if you move into 1031 exchange use as primary residence for 2 years. Held for 5 years, 3years rental income. $500,000 capital gain tax free?
Great question, to assist you further, I highly recommend you request a free 45-minute consultation to discuss this with my team so we can provide with you an answer that is unique to your situation. Visit: aba.link/sc7
What if the only taxes will be sales tax?
Great question, to assist you further, I highly recommend you request a free 45-minute consultation to discuss this with my team so we can provide with you an answer that is unique to your situation. Visit: aba.link/sc7