exit strategy (by DENNIS [FL]) Apr 13, 2018 9:46 AM|
exit strategy (by John... [MI]) Apr 13, 2018 10:24 AM
exit strategy (by myob [GA]) Apr 13, 2018 11:34 AM
exit strategy (by RB [MI]) Apr 13, 2018 12:07 PM
exit strategy (by NC INVESTOR [NC]) Apr 13, 2018 12:23 PM
exit strategy (by don [PA]) Apr 13, 2018 2:03 PM
exit strategy (by Robert J [CA]) Apr 13, 2018 9:46 PM
exit strategy (by NC INVESTOR [NC]) Apr 14, 2018 1:50 PM
exit strategy (by Lynda [TX]) Apr 14, 2018 6:11 PM
exit strategy (by ntj [GA]) Apr 14, 2018 7:08 PM
exit strategy (by DENNIS [FL]) Posted on: Apr 13, 2018 9:46 AM
Getting a little old & tired.would like to sell some properties in jacksonville,fl. looking for easy ways to do that and minimize the tax bite --66.177.xxx.x
exit strategy (by John... [MI]) Posted on: Apr 13, 2018 10:24 AM
Do you want out completely or maybe roll it all into something more manageable for you? Maybe a 1031 into a larger complex makes sense if you don't want all the way out?
If you do want out completely, then someone else will give better advice than I. :)
exit strategy (by myob [GA]) Posted on: Apr 13, 2018 11:34 AM
Define Little old? Heck we're all tired. Stop your wine about that. --99.103.xxx.xxx
exit strategy (by RB [MI]) Posted on: Apr 13, 2018 12:07 PM
I know, I know ! (raising my hand in Class)
How about Selling One Place,
and see how that works out, for ya.
Or maybe have a Little Cheese with that Wine. --47.35.xx.xx
exit strategy (by NC INVESTOR [NC]) Posted on: Apr 13, 2018 12:23 PM
Minimizing the tax bite is something that needed to be put in place when you started.
There are so many factors that go into determining if it makes sense or not I recommend you sit down with a CPA who is well versed in investment properties.
Some of it will depend on your current market conditions and how you plan to sell them, on the open market or to another investor. What it will cost to get them "sale ready" to fetch the maximum return. How much appreciation do you think has occurred over the years and do you have any NOL to carry forward to cover some or all of those taxes. What price range are they in and who is your target market. What is the absorption rate of the market for your target price point and demographic?
Do you know how to develop a rough estimate of cap gains and depreciation recapture? That may help in determining how and when or even if to unload them. --71.75.xx.xx
exit strategy (by don [PA]) Posted on: Apr 13, 2018 2:03 PM
Live in one for two years, sell it with no fed taxes, move into another, sell it in two years, etc. --70.90.xx.xxx
exit strategy (by Robert J [CA]) Posted on: Apr 13, 2018 9:46 PM
Sell it and offer seller financing. Have a contract that you hold the first mortgage with late penalties, insurance requirements covering yourself in case of a loss/fire. Also have a pre-payment clause, six months un-earned interest.
exit strategy (by NC INVESTOR [NC]) Posted on: Apr 14, 2018 1:50 PM
Seller financing laws have gotten more stringent. In NC seller financed properties that go in to foreclosure take up to 24 months to get the property back. RTO nd lease options take up to a year.
Thant's in NC but I've seen this in other states. You might want to check your local regs on seller financing. --71.75.xx.xx
exit strategy (by Lynda [TX]) Posted on: Apr 14, 2018 6:11 PM
MY exit strategy is to sell each property as soon as the mortgage is free and clear (paid off by the tenants) so that get to keep 100% of the proceeds. Basically for me, that was 1/year. I am selling my 2nd to last property this May. Each purchase (and each sale) was different--dif procedure or circumstance, dif documentation required or rules/hoops to jump thru. I learned a lot.
For each lump of money I had to find an investment--not rental property--or find a place to park it. If you don't invest in more rental property or in your business,you have to find other places to put it. Paying down other properties, starting a stock account, maxing out IRAs, helped but only used some of it. Now I need a new plan for what to do after LLing. --108.87.xx.xxx
exit strategy (by ntj [GA]) Posted on: Apr 14, 2018 7:08 PM
If you want to sell it, just sell it. My opinion is that most people who try to minimize taxes in selling assets save a lot less money than they think they will, or hold onto an asset longer than they should, and end up in a worse place. --24.98.xxx.xx