Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Financing in 02540 : Real Estate Advice

  • All10
  • Local Info0
  • Home Buying3
  • Home Selling2
  • Market Conditions0

Activity 1
Mon Jun 10, 2013
Doug Azarian answered:
If they are both investment properties you may be able to do a 1031 Tax Exchange. This would allow you to defer any taxes due on a gain and use the proceeds in the new purchase. You may or may not be able to keep any of the proceeds but it may put you in a position where you don't have to add any additional equity to make the purchase. There are rules around the timing of both transactions as well. It is important to identify properties you are willing to buy within a time window of the sale of the property currently owned. You need to have a plan in place when you sell. There are many attorneys, CPA's, and Tax Exchange companies that handle this. If you are preparing to sell soon I would be happy to meet with you and provide some suggestions. ... more
0 votes 4 answers Share Flag
Search Advice
Search

Followers

176