Question for the financial gurus around here. In ballpark numbers, what would capital gains tax be on a property held for over 2 years with profit of around $40k ? Also, does anyone know a good 1031 exchange person?
Nothing if you do a 1031 exchange. But you'll have to re invest the money in something quick. Tax runs around 33% on average. If you're planning on selling I mabey able to help. I have a couple of land lots in apple valley for sale and get a lot of calls on them from orange county peeps trying to buy investments. PM if your intrested.