Selling Rental Properties? Real estate investor wants to know if he should sell his rental properties and invest the proceeds elsewhere Q: I am 60 years old with a pension. I've invested in rental properties in the past and currently own six rental properties. I have no mortgages on these properties and paid around $100,000 [...]
Vacant Homes and Empty Storefronts: Why so many? Q: I’m curious. There are several vacant homes in my area. They look abandoned. They are or were beautiful, but year after year, they sit empty. Similarly, there are a number of empty storefronts in my area, all with substantially high, competitive rates. Why leave these storefronts [...]
Property Taxes on Investment Property: What happens when you switch your primary residence for your investment property? Q: We read your column Real Estate Matters in our local paper and it has really helped us. We live in the Washington, D.C. area. Here’s our problem. We have owned a duplex since 1989. We live on [...]
What to do with inherited property that is leased? https://www.youtube.com/watch?v=oeQ0uX-Li4w Tenants, leases, and inherited property. What happens when you inherit property but it comes with a tenants? Are there options for handling with this lease? Q: My brother and I inherited several acres of commercial property from our parents. The land came with [...]
Are you inheriting a home? There are several options to consider if you'll be the beneficiary of this sort of bequest and don't want to keep it. Inheriting a Home: To Keep or Sell Q: I read your column regularly and always find it very interesting and informative. I have a rather complicated question: My [...]
Was your investment property damaged by tenants? If it was, can you recoup the costs to repair your investment property? Was Your Investment Property Damaged by Tenants? How Can You Recoup the Costs to Repair? Q: My wife and I bought a house in Maryland in early July 2022. The sellers wanted to stay in [...]
Buying a duplex with friends: primary residence or investment property? This reader wants to know how taxes work if all four of them are on the financing and title. Q: My partner and I plan to purchase a duplex with friends. We would live on one side, and our friends (who already own their forever [...]
Second home vs investment property: IRS tax rules. If a property was used as both over time, what are the tax implications when the property is sold? Q: I read your article on avoiding capital gains tax on second homes in our Sunday paper. I have a question that is along those same lines, except [...]
1031 exchange deadlines during COVID-19 pandemic. This reader wants to know about extensions available to those who completed a 1031 exchange in 2019. Q: We completed our 1031 exchange in September 2019. Our renter has fallen on hardship due to the Coronavirus/COVID-19 pandemic and cannot afford the rent. Similarly, we are in a rental that [...]
How much tax do you pay when you sell a rental property? How home valuation and depreciation factor into taxes when selling investment property. Q: My father in law is selling a duplex he rented out for about 10 years. The sale price is going to be around $300,000. His accountant says that he should [...]
