can you show me a scenario of a 1031 exchange?  existing house 375k equity 158 new house 500k?
349497
New house price                               $500,000\nEquity of the previous house              (-) $158,000\nYour new loan amount will be approximately:   $342,000.\nDon't forget to add all the costs associate with selling the old house and buyning the new one.
878425
You only pay capital gains on PROFIT, not gross proceeds. If you come out at 0, you dont have to worry about capital gains. \n\nI bought house for $152, sold it at $167, and only paid capital gains on about $5K becuase that was all the profit I made on the deal. \n\nAs long as you keep your paperwork to show that the cash you're getting back is your down payment and not profit (hang onto your original closing statement) then the 1031 exchange is a moot point.
138462
Lots to consider, what is the appreciation in the community that you are living? What does it look like for the next five years? With home ownership your interest is a deduction from your ordinary income? What is your present rent? Over 5 years.?\n\nWhat are present market value of the sold homes?\n\nGenerally home ownership is the way to go.\n\nGood Luck
480874
Only in your previous question asking for someone to invest $250k in the "upscale Bergen County Community".  I'm all ears!  What is Equity Sharing for purchasing a home?  Do you know?
848983
Need more specific information.  I would sell as quickly as possible and take the equity and put it into something more managable.
128392
What an amazing offer! I barely make 4% from every investment idea that I can think of. But are the business returns based on the fact that housing, real estate and construction business were booming last year? What % is attributable to that growth? How would it look like if new construction or remodelling projects fell by 10% this year?
323919
I would suggest getting an up to date valuation from the company which initially valued the property at 50 to 60 k more. If the valuations are miles apart suggest that you would like to take the valuations to arbitration or contact the valuers institute and ask them for advice.
1093901
Use a big brokerage firm like Goldman Sachs or Lehman Brothers.  They should have a foreign exchange desk.  Just give them a call and ask them.
419203
We qualify people all the time with the old home "retained as a rental."  You can use market rent for your area to offset the mortgage on the existing home to keep your ratios down.  You are running the risk that you will end up responsible for two mortgage payments if you can't sell your current home quickly enough.  In my area, that's not a problem because the market is hot (that's why no seller will accept a buyer's offer if it's contingent on selling the current residence... there are so many buyers out there that they don't have to.)
1120438
Great point TaxGuru... great answer too.\n\nI'm referring to the fact that you might have depreciated the property and refinanced the property (taking cash out) over the years.  You might have only paid off your liens, but still received funds in excess of your adjusted basis.\n\nCalculating your real estate gain takes into account a number of factors.  Your original purchase price could have easily been much lower than your present liens.  Although you wouldn't have had to pay gains tax when taking cash out, you would have to account at the time of sale/title transfer.\n\nI've been working on my 1031 exchange real estate site, and should complete the site by July 4th.  Many of the functions are up and running.. you can calculate your capital gain here:\nhttp://www.1031store.com/resources/1031_capital_gains_calculator.php\n\nAlso, the site will have a place where you can search for professionals who will be able to help you... notably accountants(1031 exchanges are about deferring capital gains).\nhttp://www.1031store.com/experts/1031_exchange_experts.php\n\nI hope that you do not owe anything because this sounds like a tough situation.  Your foreclosure expenses probably ate up an awful lot of your potential gain.  You might want to also contact a real estate attorney to make sure that you are getting a fair shake.\n\nHope that this helps...
296108
One of the investors I work with may have a home or two in Naperville (or surrounding suburbs).  Would need a bit more information on what you're looking for in terms of home size and $$$
834969
The 1031 (refers to Internal Revenue Code Section 1031 which explains the exchange) "like-kind" exchange has specific criteria to qualify as a nontaxable event.  You must exchange for similiar BUSINESS USE property and you must use a qualified intermediary if you are buying/selling real estate that is not a "direct" exchange. The delayed, non-direct exchange is referred to as a "Starker" exchange.  The qualified intermediary will handle all money - if any actually comes to you (or an account where you have access, etc) the exchange will not qualify.  After selling the property you must identify replacement property within 45 days (EXACT property with legal description) and take posession of replacement property within 180 days.\n\nHopefully this helps. The IRS website has a publication on like-kind exchanges which may help you.  You can download here: http://www.irs.gov/publications/p544/ch01.html#d0e2447
1030774
I would say that is a resounding 'YES'.  Even if you sale your home soon you can still make a profit considered your home is worth $550K, current outstanding loans total $199K and closing cost of the new loan is $7K which leaves about $344K in equity.\n\nPersonally if I were you, I would refinance a new loan for at least $221K to get at least $15K of equity to deposit in the bank.
659687
if you and your spouse lived in the property for 2 of the past 5 years, you each could exempt $250k from capital gains. another option is using a 1031 exchange to purchase another real estate investment that would defer capital gains and pay you tax advantaged income. consult your local independant financial advisor and you can get a list of 1031 properties. your tax advisor can project the tax for you. you should set aside the $ in a one year cd. good luck
117999
try http://finance.yahoo.com/q?s=RSH
577241
Your pretty much correct.\n\nHere is a link to my 1031 exchange site that I'm creating:\nhttp://www.nnnstore.com soon to be http://www.1031store.com\n\nYou will find good general information about 1031 exchanges, especially on the first page.\n\nHere is a link to my capital gains calculator:\nhttp://www.nnnstore.com/1031_capital_gains_calculator.php soon to be:\nhttp://www.1031store.com/1031_capital_gains_calculator.php\n\nThis will help you figure out your total capital gain due.  NH is a no capital gains state.  I calculate that you will owe $15,300 in capital gains taxes.\n\nThis figure could change if you depreciated the property or add in capital improvements.\n\nTo defer all capital gains taxes, 1031 exchanges are the way to go.  You will need to replace all debt & equity of your sale by purchasing another investment property.\n\nYou may do a partial 1031 exchange, reinvesting some of the proceeds and taking the gain on the rest(known as 'boot').\n\nA good title company should be able to help explain 1031 exchanges further, and also act as your accomodator for the exchange.
483854
Let me tell you the minus part-\n\nBought my grandmas home valued at $595K, took out a loan for 436,000.  Plumbing was $6000 off the bat, interior painting, wall paper removal $1500.  Tons of homes in her area have come up for sale 495K-630K, and a few closed after 3+ months for sale.  Decided to rent the place for $2200, loan is $1750, insurance $90, and property tax is a mess right now.  Rent not covering the PITI ( even on neg am loan).  Gardner's raised fee due to gas, I pay water and trash. \n\nIf I sell, I am subject to capital gains on any money I make.  Based on price I paid, that was never disclosed cause there was no contract I am in a bit of a mess.  They can actually base my capital gains off the price my grandma paid on the home $19,000.\n\nUnless your related to Donald Trump, I would stay away from the real estate investing until you get a grasp on the entire picture.  I am finding it incredibly hard to remember what the basis was for deciding to take on another property.  Even with my own personal income 10K month, & rent for the home I am finding it necessary to balance my checkbook for the first time in my life.  It may turn out great down the road.  To date, its taken entire days away from my regular job, required more up front money then budgeted, caused a potential tax mess, and the worse time to try and sell in a historically desirable neighborhood of custom homes.