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Number of Posts:187
Registered on:6/5/2008
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re: Need help with house buying - NEWBIE
[quote]You don't understand how realtors are paid. Sellers pay the realtor fees. [/quote] And you don't think the seller has accounted for this in the sales price?...
Posted on Money Talk
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re: Talcum X Has Been Caught Lying Once Again - NEWBIE
[link=(https://www.azcentral.com/story/news/politics/immigration/2014/06/18/arizona-immigrant-children-holding-area-tour/10780449/)]LINK[/link] Article was updated in 2016, but info under pictures state 2014 images. ETA.. direct link to photos [link=(https://www.azcentral.com/picture-gallery/n...
Posted on O-T Lounge
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re: Estimating Taxes for Rental Home Property After Sale - Am I doing these numbers right? - NEWBIE
Don't forget to take into account depreciation recapture....
Posted on Money Talk
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re: TV experts, will be needing a new TV. Few questions for one in a moderately bright room... - NEWBIE
I have the same decision to make soon, so interested in the replies. I will point out the 2017 lg oleds we're released at the end of February last year. May see a price drop in 17s or enough improvements in 18s to buy the new model....
Posted on Tech Board
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re: Financing home purchase + renovation - NEWBIE
Look up an fha 203k loan eta - Have you already purchased the home? or just entered into a purchase agreement?...
Posted on Money Talk
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re: Explosion in NYC - looks like it's over - NEWBIE
Look at the twitter responses to that photo. From 5 years ago and a controlled demo of the subway. Not from today....
Posted on Political Talk
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re: Selling first home. Question: Should I in this scenario? - NEWBIE
Look up section 121 personal residence exclusion. To qualify, you must live there for 2 of the last 5 years. You can use the 121 exclusion multiple times a long as you meet the criteria. Capital gains tax top rate this year is 20% plus Obama care tax and state cap gains tax. If you've depreci...
Posted on Money Talk
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re: 1031 Exchange - NEWBIE
[quote]Get in contact with a tax attorney. They will act as the intermediary.[/quote] Your tax attorney cannot serve as your qualified intermediary. Gunn is a fantastic attorney and very knowledgeable. Call Title Exchange Company in Baton Rouge. Bill Hyde has been doing exchanges for almost 30...
Posted on Money Talk
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re: Rent house vs REITs - NEWBIE
Make sure to look at your exit strategies with a REIT and the tax consequences of doing so. You may not have control of the timing of the REIT selling the asset(s)....
Posted on Money Talk
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re: Closing on a house absentee. - NEWBIE
Have the closing attorney prepare a specific power of attorney for your designated agent to sign to buy this particular property. No reason to wire the money ahead of time. Just process the wire the day of the closing while on vacation. If you must wire money before leaving town and the clos...
Posted on Money Talk
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re: Gains from Sale of House - NEWBIE
[link=(https://www.law.cornell.edu/uscode/text/26/121)]Section 121[/link] If there was a gain, it would not be recognized if you have resided in the property for 2 of the last 5 years....
Posted on Money Talk
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re: Gains from Sale of House - NEWBIE
It's Sale - not sell. Was this your principal residence? If so - look at section 121 exclusion on the gain. If not your personal residence, if the sales price is lower than your purchase price - most likely no gain depending on how much depreciation was taken during your ownership....
Posted on Money Talk
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re: 1031 exchange questions - NEWBIE
Call a local company - Bill Hyde - used to own Baton Rouge Title Company, has run Title Exchange Company for 25 years doing exchanges. ...
Posted on Money Talk
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re: Question about purchasing a camp - NEWBIE
[quote]A)One of us purchase and have the other three just pay that person.[/quote] Don't do this...
Posted on Money Talk
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re: 1031 exchange - NEWBIE
(No Message)...
Posted on Money Talk
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re: reverse 1031 exchange? - NEWBIE
In the other 1031 thread I just recommended Title Exchange Company. A friend of mine did a reverse improvement exchange with them last year and was very pleased....
Posted on Money Talk
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re: Why you buy title insurance - NEWBIE
[quote]as long as the title company is in business[/quote] Title company has no impact on the title insurance. Now if you are concerned about the Title Insurance company going out of business- yes that could come in to play. That is why you should only buy from a reputable title insurance com...
Posted on Money Talk
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re: selling real estate and reinvesting..tax implications? - NEWBIE
1031 tax deferred exchange. 45 days to identify replacement property; 180 days to close on ID'd property. Both run from the date of selling your property. You need a qualified intermediary to qualify for the tax deferred benefits. You cannot have constructive receipt of the funds during the ex...
Posted on Money Talk
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