The Capital Gains Blog

Posts Tagged ‘investment_rental_property’

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Question: A 1031 Exchange of a single family dwelling rental into apartments. Good idea? if not how can I make it work

Answer: Not 100% sure, but I think on a 1031 you must buy a similar property. Single family to single family.

Landlord has right to enter property

Q:When does a landlord have the right to enter a rental property? For example, the smoke detector was going off and the renters were away for the weekend. Or the lease says that three adults can live on the property, yet the landlord knows that four adults are now living on the premises. Can a landlord enter the property without the consent of the renters at any time?—Barbara

Junipine Resort Creekhouse

Question: 1031 Tax Exchange on Listings – Mandatory?

If a property is listed as “buyer to cooperate in 1031 exchange” but I would prefer to purchase outright, is this possible? There is a 4 plex I’d like to buy but I don’t want to exchange my current investments. thanks

Answer: You can (and will) buy the property outright. The 1031 exchange has no effect on how you will purchase, but it may have an effect on how the deal is completed. The seller is legally obligated to tell you he is doing a 1031 exchange. It is a tax-saving mechanism that requires extra paperwork and can only be done within a limited time period. The hassle is all his, not yours, but he has to let you know he’s doing it so that you don’t have unreasonable expectations as to how quick the deal must take place and what you have to sign. It’s done all the time

Art Galleries

See weekly Exhibits listings in The New Times ’ Times Table calendar. Abbott’s Lake Country Studio. 624 S. Main St., Central Square. 668-9459. Cazenovia College Art Gallery.

Real estate for sale in Annapolis MD – AA7118885