Brad, KB sends you his regards...



http://www.sergesmuseum.com/uploaded//_A7A4ED8C_31.jpg

I hear he is looking for work, maybe you can hire him to blow smoke up your ass all day;-) Your offical colon cleanser.

Brad....I sold house in NJ yesterday....bought it in 98....care to estimate capital gain?
;-))))

Roll it into other real estate, so no capital gains tax?

$500k?

98-2003, you could have easily made 40%.

Roll it into other real estate, so no capital gains tax?

$500k?

98-2003, you could have easily made 40%.[/b][/quote]
no, I can't roll...it's investment property, I don't live there
;-)))

but.....it covered most of my stock market losses
;-)))

Sold Boca, sold NJ? Will you be permanently travelling? Will you come through Boca for poker games, or do I just PayPal you your winnings directly?

no, I can't roll...it's investment property, I don't live there
;-)))

but.....it covered most of my stock market losses
;-)))[/b][/quote]
Serge there is a program where you can take the money from the property and put it into another investment property and not pay any taxs on it. It is probably to late. It has some strange number for a name, like rule 310 roll over or something.

sold NJ...I won't leave Boca for as long I have a chance playinjg poker with you
;-)))

Serge there is a program where you can take the money from the property and put it into another investment property and not pay any taxs on it. It is probably to late. It has some strange number for a name, like rule 310 roll over or something.[/b][/quote]
Mike, my stock losses took care of gains on the sale...so it's tax free anyway
;-)))

Here is the real name....

1031Tax-Free Exchange

Some info on it http://rhol.org/rental/exchange.HTM

http://www.irs.gov/businesses/small/indust...d=98491,00.html

1031 exchange

Do I send you a 1099 for my losses? Or is it a gift?

no, I can't roll...it's investment property, I don't live there
;-)))

but.....it covered most of my stock market losses
;-)))[/b][/quote]
Serge, ask your CPA about a 1031 Tax Deferred Exchange, if the sale is not final yet.

http://www.mid-exchange.com/1031_Tax%20Def...e_Explained.htm

Maybe roll it into a house here in Dallas.

Serge there is a program where you can take the money from the property and put it into another investment property and not pay any taxs on it. It is probably to late. It has some strange number for a name, like rule 310 roll over or something.[/b][/quote]
1031 deferred tax exchange......several different ways to do it...
At Serge's income level, it's nice to buy something expensive and completely furnished, and exchange your way through the trimmings without paying all that nasty sales tax...

Disclaimer : I am not a tax attorney nor do I have any money or know what I'm talking about

Serge, ask your CPA about a 1031 Tax Deferred Exchange, if the sale is not final yet.

http://www.mid-exchange.com/1031_Tax%20Def...e_Explained.htm

Maybe roll it into a house here in Dallas.[/b][/quote]
Damn Brad, come late to the party?

:zoinks:

You guys beat me to it. I do not think it matters if it is investment property. If it was not investment, you could get around capital gains other ways.

Damn Brad, come late to the party?

:zoinks:[/b][/quote]
I typed out my post, had phone ring, then came back and hit submit;-) Some of us have to take calls and work!

I typed out my post, had phone ring, then came back and hit submit;-) Some of us have to take calls and work![/b][/quote]


Uh huh!

:P

Jim, my today's income level a year is equal to 5 days income in 1999...
this is NOT the income it would be worse doing
;-)))

Due to Ron Levi's flash movie,
I lost 98.63% of my income...my reputation is RUINED!

guys, why do you worry about taxes????

I'll pay 10 mils a year taxes ANY DAY!
;-)))

Jim, my today's income level a year is equal to 5 days income in 1999...
this is NOT the income it would be worse doing
;-)))

Due to Ron Levi's flash movie,
I lost 98.63% of my income...my reputation is RUINED![/b][/quote]
I am willing to sign an affidavit that J'springer refused to send both UVOVUN's within his power to control to your program after viewing the flash file...

Wow, that was excellent timing selling your investment property. Housing prices and and stock prices are setting up for a big drop between now and late 2004.

I sold a house here in Las Vegas a few months ago, I could have waited till now and got a bit more but I was glad to get rid of it near the top of the local market. Since it was my primary residence for more than 2 out of the past 5 years I do not have to pay any capital gain taxes either.

I am willing to sign an affidavit that J'springer refused to send both UVOVUN's within his power to control to your program after viewing the flash file...[/b][/quote]
hahahahah,
I have testimony from 3000 GFYers
;-)))

Wow, that was excellent timing selling your investment property. Housing prices and and stock prices are setting up for a big drop between now and late 2004.

I sold a house here in Las Vegas a few months ago, I could have waited till now and got a bit more but I was glad to get rid of it near the top of the local market. Since it was my primary residence for more than 2 out of the past 5 years I do not have to pay any capital gain taxes either.[/b][/quote]
I doubt real estate is going to drop, especially in Vegas. But then again, what do I know.

Here in Dallas when the economy was at its worst a few years ago, houses in the $200-400k were still rising in value. Of course million $ homes, are worth about the same now that they were 4 years ago.

Wow, that was excellent timing selling your investment property. Housing prices and and stock prices are setting up for a big drop between now and late 2004.

I sold a house here in Las Vegas a few months ago, I could have waited till now and got a bit more but I was glad to get rid of it near the top of the local market. Since it was my primary residence for more than 2 out of the past 5 years I do not have to pay any capital gain taxes either.[/b][/quote]
..and how you are doing on your shorts?
;-)))

I sold 40% of my bonds...and now have 25% in MM
;-))))

..and how you are doing on your shorts?
;-)))

I sold 40% of my bonds...and now have 25% in MM
;-))))[/b][/quote]

it looks like the trend is changing, the short funds are doing good this week so far.
USPIX short fund

I took some profits from the house sale and added to short funds, I am breaking even
over the past 2 months, but next the 13 months look REALLY good for shorting the stock
market, see interesting publications at:

Elliot Wave homepage (free week this week)
and also
Calendar Research

I haven't seen Wig on here lately, maybe he could post his latest opinion on the market

:gbounce:

Any house here under 350K is selling fast and some people are getting more than their asking price, especially here in the summerlin area. The 500K to 1M+ range houses are selling slow, and some people are lowering their prices.

Las Vegas in still hot for housing, but prices have been leveling off and I don't think they will go up 10% per year anymore.

i know some of you are putting money into real estate. Look into 5+ unit buildings. from my experience best investment properties are 5+ unit buildings. At 5 or more units it becomes a commercial property. Slightly harder to get mortgage for but they sell at much lower multiples where you end up with easy positive cash flow and still negative depreciation.

its like pulling money out of your ass (_$_) :D

Do I smell a European purchase coming , Serge ?

Trailers too. An old boyfriend of mine has several acres of property and buys repossesed trailers at auction that are less than 2 years old for $5-10K. Puts them on a cement base and rents them out with no lease on a month to month basis but charges weekly. If you don't pay, you're gone w/in a few weeks (most evictions in GA take 4-6 months). He makes his initial investment back in 1-2 years and everything else is gravy. B) His mother has about 40 of them. His best friend called him a slum lord until he bought some land that already had 2 trailers on them. He's since started investing in them heavily. :)

Granted, this wouldn't work in San Fran, but in rural GA, it's a money making machine. :P

nope...just Louisiana Purchase
;-)))

nope...just Louisiana Purchase
;-)))[/b][/quote]


Serge I have a nice house on the River for sale!!

:D

peaches, i wonder if i could put up a couple of trailors in the Golden Gate part :D

Serge I have a nice house on the River for sale!!

:D[/b][/quote]
I need a bit more...likr 1/4 of a parish
;-)))