Message from @S0NS0FLIBERTY USA

Discord ID: 509721039954247723


2018-11-07 13:21:55 UTC  

again, i cant imagine how that should matter if im selling for a wash

2018-11-07 13:22:00 UTC  

but w/e\

What percentage is the partner in for

2018-11-07 13:22:33 UTC  

50%

```Rule 3: Greater or Equal Value
In order to completely avoid paying any taxes upon the sale of your property, the IRS requires the net market value and equity of the property purchased must be the same as, or greater than the property sold. Otherwise, you will not be able to defer 100% of the tax.

For example, let’s say you have a property worth $2,000,000, and a mortgage of $500,000. To receive the full benefit of the 1031, the new property (or properties) you purchase need to have a net worth of at least 2 million dollars, and you’ll have to carry over at least a $500,000 mortgage. It’s important to note that the $2,000,000+ value, and $500,000 mortgage, can go towards one apartment building or three different properties with a total value of $2,000,000+. (FYI: Acquisition costs, such as inspections and broker fees also apply toward the total cost of the new property.)```

Do you have any brokers i the family

You can also defer for "Contruction improvements"

Is the partner only in the S corp

2018-11-07 13:24:01 UTC  

when it was the development company (when it was active) XXX builders were the contractors, so it was meant to separate the raw property, which we were partners in the develpment of, from what the contracting side made, because the partner was not part of the building process, aside from excavation, which we handled through the builders llc

2018-11-07 13:24:35 UTC  

what you;re saying is not different, in principle, from any intrabusiness expense

2018-11-07 13:25:22 UTC  

you make a profit, you either call it profit, or spend it on something for the business and call it expense or an asset for depreciation....

2018-11-07 13:26:29 UTC  

that's why if you're running a shell holding company, or even if you arent, for that matter, when you sell a house at a gain, if you roll it into another like asset, you're just expensing the profts, or, in effect, placing them ina company asset for depreciation, which is the same thing

2018-11-07 13:27:03 UTC  

you still only pay taxes on things that make a gain, and cant gain by losing.

2018-11-07 13:27:25 UTC  

nor by breaking even

Take the equity loan out for the S corp to buy the home, 1031 exchange it from LLC to S Corp, Use equity loan to "pay construction company" for XYZ services. Excess cash is tax free income

the 1031 exchange is your muscle

It was created during the bubble and for w/e reason hasnt been modified since

2018-11-07 13:29:07 UTC  

ron, I wish you were making sense, i really do

2018-11-07 13:29:26 UTC  

Sing Swan! Your picture really highlights a wise real estate titan. He makes sense.

2018-11-07 13:29:40 UTC  

see ron

2018-11-07 13:29:44 UTC  

I tried to tell you

2018-11-07 13:29:46 UTC  

he is a retard

I would start with the 1031 exchange as your out

2018-11-07 13:29:53 UTC  

youre a fucking faggot dude

2018-11-07 13:29:57 UTC  

i do this shit for a lliving

then look at equity loan to wash it

2018-11-07 13:30:02 UTC  

cool

2018-11-07 13:30:04 UTC  

so do dr's

2018-11-07 13:30:07 UTC  

that have no clue

2018-11-07 13:30:10 UTC  

what they are doing

2018-11-07 13:30:17 UTC  

eadc

2018-11-07 13:30:24 UTC  

idk probably trolling strangers over some nonsense

2018-11-07 13:30:27 UTC  

or not

2018-11-07 13:30:32 UTC  

eiter way fuck off

2018-11-07 13:30:35 UTC  

kindly

2018-11-07 13:31:49 UTC  

there's no equity

2018-11-07 13:32:08 UTC  

maybe 20k i could pull out, over cost (owed)

2018-11-07 13:32:56 UTC  

on my personal home, i owe 130, could probably draw 50 on that (meaning bamk assessment of something like 210k)

2018-11-07 13:34:09 UTC  

the remodeled house im selling im into for 225, listed for 270, would take 250, bank would probably value at 235- 240 (for 2200 sq ft colonial, like new condition, high efficiency everything).