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re: Investing a million
Posted on 8/30/20 at 12:06 pm to El Segundo Guy
Posted on 8/30/20 at 12:06 pm to El Segundo Guy
I’d put it good bonds and collect.
0
Posted on 8/30/20 at 1:25 pm to El Segundo Guy
You really need to consider the tax implications of the sale. Especially in a sale of this value, the tax strategy could very well be the primary driver of what you decide.
If you are already in retirement, then I would be looking at preserving principle while still have cash flow. Bonds are one of the best ways to do this. Look at the yield and collect 3-4% to have fun in retirement.
If you are already in retirement, then I would be looking at preserving principle while still have cash flow. Bonds are one of the best ways to do this. Look at the yield and collect 3-4% to have fun in retirement.
Posted on 8/30/20 at 1:51 pm to lynxcat
Thanks for the help guys. I think the bond route would be good for us after looking into it.
Now if the Texas property sells, all bets are off and it will be straight OT baller status.
Now if the Texas property sells, all bets are off and it will be straight OT baller status.
Posted on 8/30/20 at 2:02 pm to El Segundo Guy
quote:
I really don't know what either of those things are.
quote:
The IRS code's Section 1031 makes it possible for an investor to defer paying capital gains taxes on an investment property upon its sale -- as long as another, "like kind" property is bought with the profit from the sale of the investment property.
Google 1031 tax exchange and you will find much info but I'm sure you will need an expert to help you with that. The amount of capital gains would depend on her basis (her costs) in the property and since it is inherited presumably the basis is low.
Posted on 8/30/20 at 2:05 pm to cgrand
Apple stock split 4:1 on Monday.
Posted on 8/30/20 at 2:17 pm to nctiger71
Guys, I appreciate it. I've always been good with money but not so informed about investing. I have always just sacrificed and busted my arse.
The way I understand it, she's liable for taxes based off of the difference between the sale amount and the valuation at the time of the formation of the LLC. It sat in a trust for a few years then transitioned to a LLC for tax purposes i believe.
The way I understand it, she's liable for taxes based off of the difference between the sale amount and the valuation at the time of the formation of the LLC. It sat in a trust for a few years then transitioned to a LLC for tax purposes i believe.
Posted on 8/30/20 at 2:50 pm to El Segundo Guy
“valuation at the time of the formation of the LLC”
That sounds right to me but I’m not an accountant and have no personal experience with that type/size inheritance.
I think moving your investment out of CA is a good strategic move.
That sounds right to me but I’m not an accountant and have no personal experience with that type/size inheritance.
I think moving your investment out of CA is a good strategic move.
Posted on 8/30/20 at 4:51 pm to El Segundo Guy
Also - it’s in California - they will get their pound of flesh.
Posted on 8/30/20 at 5:48 pm to eng08
quote:
Triple net lease - research it, lower potential return but less work (like no work).
Until you loose the tenant. NNN isn’t for the casual investor.
Posted on 8/30/20 at 7:03 pm to El Segundo Guy
quote:
The 2 sections in Texas are right on the interstate on the city limits. Her great great whatever won the 2 sections in a poker game over 100 years ago.
That’s actually a CSB
Posted on 8/30/20 at 8:53 pm to El Segundo Guy
quote:Props given but your situation calls for a prudent financial professional.
Guys, I appreciate it. I've always been good with money but not so informed about investing. I have always just sacrificed and busted my arse.
Yes it will be “expensive” to hire a good one but doing any of the many potential wrong things for y’all will be much more costly and wasteful.
It’s OK to admit you need help.
It’s a good problem to have, in y’all’s case.
Good luck,
Posted on 8/30/20 at 11:13 pm to MrJimBeam
quote:not a bad idea except would add diversification
Put in an ETF and just collect that annual 10 percent and forget it.
Posted on 8/31/20 at 12:09 am to El Segundo Guy
quote:
She has a 7% ownership in 2 sections outside of Odessa they are getting ready to sell. Land studies and all bullshite. 1640 acres with mineral rights.
2 sections of land is 1280 acres
Posted on 8/31/20 at 3:09 am to eng08
quote:
Keep it in real estate and try to do a 1031 exchange to avoid paying taxes?
Look for a triple net deal where you don’t do anything maybe?
Solid advice.
Posted on 8/31/20 at 7:59 am to I Love Bama
First piece of advice is start investing and educating yourself now, so that if you get one of the windfalls then you will be ready. The only difference between investing 13,000 and 1.3 mil is that on the bad days when you lose 3% and that’s like 40,000 in a day you have to not shite a brick and sell off.
But yes, you need to talk to a cpa about the taxes here. That’s going to be very important and may make selling it not as good of an idea.
But yes, you need to talk to a cpa about the taxes here. That’s going to be very important and may make selling it not as good of an idea.
Posted on 8/31/20 at 9:48 am to El Segundo Guy
quote:
Investing a million
go consult with a professional
don't ask an internet board about where to throw such large amounts
Posted on 8/31/20 at 10:25 am to DVinBR
quote:
Put in an ETF and just collect that annual 10 percent and forget it.
Please tell me what ETF automatically earns 10% every year? Ready to put my life savings into it.
Posted on 8/31/20 at 11:34 am to El Segundo Guy
ETF. I like VPU, but there is one for any industry you are interested in. Zero work on your part, and will send you a quarterly check. Enjoy your hard work by not doing anymore.
Posted on 8/31/20 at 5:44 pm to El Segundo Guy
Don’t be a dummy bro. I know you’re a boomer but don’t invest like one
Yolo Tesla bro
Yolo Tesla bro
Posted on 9/3/20 at 10:37 am to el Gaucho
UPDATE--My wife, her sister and her uncle are on board with selling the apartments and Main Street commercial building in California. It will be listed soon.
I guess I need to figure some shite out quick. Haha.
I guess I need to figure some shite out quick. Haha.
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