260: Rookie Reply: When Can You Refinance and How to AVOID Taxes on a Home Sale w/Amanda Han

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 11 February 2023

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

When can you refinance your home? How do you avoid taxes when selling a property? And is there a legal limit on when you can raise rent? Unfortunately, for most new investors, many of these questions don’t come with a straight answer. And when talking about taxes, even experienced investors like Ashley and Tony can’t give advice. So, we brought back Amanda Han, CPA and real estate investor, to provide us with the facts about tax benefits, trusts, and how to pay less when you sell a property. But before that, Ashley and Tony will share their experiences on raising rent, seasoning periods when refinancing, and why you should always talk to a lender before you buy. Many of these topics, such as taxes, refinances, and raising rents, come with pitfalls that a beginner property investor WON’T know about. So stick around because this episode could save you a TON of trouble on your next purchase, refinance, or sale! If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover When you can refinance your home and “seasoning periods” explained When you’re legally allowed to raise rents and how to make adjustments to your lease Passing down rental properties and how to do so without triggering significant tax events Rent-to-own vs. seller financing and using these strategies to avoid taxes on a sale The “lazy” 1031 exchange and how to offset your capital gains tax with paper losses And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Real Estate Rookie Facebook Group How to (Legally) Avoid Taxes by Investing in Real Estate The Real Estate Podcast Airbnb Connect with Amanda: Amanda's BiggerPockets Profile Amanda's Instagram Amanda's Website Check the full show notes here: https://www.biggerpockets.com/blog/rookie-260 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Real Say Rookie Episode 260.
0:04.4	The tax benefit of a lease option is that the options money you get upfront,
0:09.8	you don't have to pay taxes on it until later on when the option is exercised.
0:14.1	During the lease option term, you still own the real estate, which means you continue to get
0:19.5	the depreciation benefits, the right off, and things like that.
0:23.2	So it's getting more money upfront, but also retaining the tax benefits, because you still
0:28.2	are the owner. My name is Ashley Care, and I'm here with my co-host, Tony Robinson.
0:32.9	And welcome to the Real Say Rookie Podcast, where every week, twice a week, we bring you the
0:37.4	inspiration, motivation, and stories you need to hear to kickstart your investing journey.
0:41.6	I want to start today's episode by shouting out someone by the username of Leo Zang,
0:46.4	and Leo let a five-star review on Apple Podcasts. It says,
0:50.1	gold mine for real estate investment, tons of valuable information, and suggestions for
0:54.9	real estate investors. You will find the road maps to success here with like four
0:59.6	exclamation marks. So Leo, we appreciate you. And for all of our rickies that are listening,
1:04.0	if you had not yet left us an honest reading review on Apple Podcasts or Spotify, wherever you
1:08.4	listen, please do the more reviews we get, the more folks we can reach, the more folks we can reach,
1:12.8	more folks who can help. And that is what we like to do here at the Real Say Rookie Podcast.
1:16.5	So Ashley Care, what's up?
1:19.1	Well, we are a week away. Well, day is away, not even a week away from your short-term
1:24.4	rental conference, the summit. And I've been nervously checking the weather because
1:31.0	each time I go out to work, it's bad weather, and I did get the email from your event planner
1:36.4	today saying there is a chance of rain over the weekend. So I really hope that that it's not me
	...

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