If you own two or more single-family rentals, maybe you’re thinking its time to trade up to apartment ownership. Apartment ownership can be more profitable than single-family rentals, especially when you put a good management company in place. Whether you’re considering selling a single-family rental or an apartment building, there are capital gains tax considerations. […]
Scott Chappell
- Posts: 9
-
-
I’m Scott Chappell and everybody knows that this is the slow time of the year to buy or sell real estate. Residential home values have gone up an average of 6% locally this year. The smart guys that do the forecasting agree that 2019 will be another good real estate year for buyers and sellers […]
-
1031 Exchanges are extremely tricky, and one mistake can literally cost you thousands of dollars. In a nutshell, when you sell a property, you can defer a taxable gain if you purchase a “like for like” property within 180 days. You must identify the replacement property in writing within 45 days. It’s a very complex […]
-
A client recently asked me why he was being charged for title insurance and transfer taxes. Even though the charge for title insurance states it’s optional, I was able to explain to him the title insurance has always been the seller’s responsibility as are the transfer taxes. His home sold quickly in a market that […]
-
What does this all mean? I’ve been around the block more than a few times. I’ve encountered nearly every possible scenario and know how to handle things when the go wrong. I’ve taken situations that seemed impossible and turned them around. I’d love to go to work for you. I’m both a probate expert and […]
-
I’m Scott Chappell, and I’d like to talk with you about the 1031 Exchange process. My ex-wife, reluctant to accept my advice, purchased a nice rental property in 2002 for $236,000. She had moved out of the area and decided to sell the property, which sold for $447,000. Her initial idea was fabulous. She thought […]
-
In my decades in real estate, I’ve run into more people than I can count who have told me they want to sell their home, but it would cost too much to make the necessary repairs to get a good price for it. I tell them “nonsense!” I know what it takes to sell a […]
-
First-time homebuyers face several challenges, not the least of which is coming up with the money for a down payment. If you only have $10,000 to put down, that limits your options. I’m Scott Chappell, and I’ve been working with buyers and sellers for more than four decades. With the median price of a home […]
-
I’m Scott Chappell, and I’d like to talk with you about the 1031 Exchange process. I was getting my hair cut the other day and my stylist told me she had sold a rental property and they wanted to do a 1031 Exchange to purchase a piece of land. When they spoke with their CPA […]