How to use a 1031 exchange the RIGHT way

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  • เผยแพร่เมื่อ 13 ธ.ค. 2024

ความคิดเห็น • 11

  • @fabiola925
    @fabiola925 ปีที่แล้ว +4

    This was helpful 😊

  • @brianburke808
    @brianburke808 ปีที่แล้ว +2

    Question - what if you have an FHA loan on a multifamily you're house hacking. Does that count as an investment property for purposes of a 1031 exchange, or would you have to first move out, rent out the unit you were in, and/or refinance into a conventional loan?

    • @seonggkim
      @seonggkim ปีที่แล้ว +1

      If you are living there as primary residence, you probably need to move out first. That is an opinion, not fact so I would double check with others.

    • @romoore2094
      @romoore2094 ปีที่แล้ว +3

      You have to have rented it out for 1 yr or more that's my understanding when I did mine

    • @janetvasquez610
      @janetvasquez610 ปีที่แล้ว +1

      So what happens to the difference because there would be more funds ???wouldn't that be considered capital gains 😂 ns be taxed

    • @micahwatson9017
      @micahwatson9017 ปีที่แล้ว +1

      You don’t need to 1031 if it’s your primary residence and you’ve lived there 2 out of the last 5 years because there’s no capital gains anyway. Just sell it and buy your new property.

  • @liveurfabexistence
    @liveurfabexistence ปีที่แล้ว +2

    Can you 1031 exchange a residential investment property to a commercial property?

    • @siluogompah4463
      @siluogompah4463 ปีที่แล้ว +2

      I'm reading this as possible but I would be more hesitant if the commercial property had no residential. I have an office or small store attached to a 1 unit house. I would double check with the IRS
      .

  • @Tetoski
    @Tetoski 11 หลายเดือนก่อน

    Need your advice, I own a mobile home on Permanent foundation on land that I Refi and pull money
    Want to know what could be a good move, sub divide and install other MH
    Or just install and refi again for sub divide later

  • @PaulineCastro-w6h
    @PaulineCastro-w6h 3 หลายเดือนก่อน

    Hi! 🎉 I was deeded (gift) a house 2 months ago, it’s a rental. Would I be able to sell it now and move all the money into a life insurance policy I can pull from to avoid capital gains?

  • @JohnJohnCrusher
    @JohnJohnCrusher ปีที่แล้ว +1

    Whoa he went from black and white to color. What?