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Forum » Biden Just Killed Real Estate Also
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Thread: Biden Just Killed Real Estate Also

post 1637364043 04-29-2021, 10:12 AM
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#121
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Originally Posted By donblaximus⏩
Correct i never said they were big time. I said stated figured. $10-20M properties not $100M. BUt in my world, people buying $15M complexes are big compared to me.
But I know people that were in that $20M range that are open to shifting portinos of that money to SFH.
I believe you but there is way more money in apartment development and way less hassle than doing SFH. I can’t see eliminating 1031’s changing the economics because even without them Real Estate still has huge tax advantages.
100% bonus depreciation can generate NOL’s for years, just look at Trump.

1 deal making 2 milllion > 5 deals making 2 million.

I think they should leave tax laws alone, stop changing chit every couple years it’s madness. This is a dumb rule to change. It’s not gonna generate enough revenue to make any type of difference. At the same time it’s not going to “kill” real estate like OP of thread titled his thread.
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post 1637364173 04-29-2021, 10:13 AM
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Originally Posted By criminal_manne⏩
Right. What I meant was they will never sell and not do a 1031 cause the gain deferral is so much. Tax isn’t ever gonna get paid.
There's no "capital gain" and therefore no capital gains tax to pay if they don't sell. You keep saying "gain deferral" which is making me think that you are suggesting a yearly unrealized capital gains tax should be implemented. is that what you are suggesting?
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post 1637364403 04-29-2021, 10:16 AM
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Originally Posted By litljay⏩
There's no "capital gain" and therefore no capital gains tax to pay if they don't sell. You keep saying "gain deferral" which is making me think that you are suggesting a yearly unrealized capital gains tax should be implemented. is that what you are suggesting?
Hell no. I’m saying they are selling and rolling the property into a new one. They aren’t gonna ever sell and NOT do a 1031. The “deferral” will become permanent. That’s the game.
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post 1637364453 04-29-2021, 10:17 AM
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Originally Posted By donblaximus⏩
THis is how it might affect everyone. People investing in large commercial might shift some of their investments to more heavy on single family residence. Then cycle through the $500k ceiling every year with a few properties. More big investors buying up single family residence constitutes less available inventory for first time home buyers might find it even harder to find something affordable to buy as they compete with investor money.
This guy gets it.
post 1637364523 04-29-2021, 10:17 AM
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Originally Posted By Anachron⏩
But at the same time, it reduces the number of investors who are completely in SFH - or at least limits their liquidity. These investors exist too...

I truly think that this will reduce the competition, not increase it.

I just thought of this, but the "buy your house for cash" "investors" come to mind.
House “flippers” aren’t relevant as they aren’t eligible for 1031’s generally speaking. IRS guidance suggests a hold of two years or more. You cant flip a house every couple months and keep rolling it over. I mean you could and would probably never get audited cause IRS is worthless but that’s another conversation.
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post 1637364803 04-29-2021, 10:20 AM
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Originally Posted By criminal_manne⏩
I believe you but there is way more money in apartment development and way less hassle than doing SFH. I can’t see eliminating 1031’s changing the economics because even without them Real Estate still has huge tax advantages.
100% bonus depreciation can generate NOL’s for years, just look at Trump.

1 deal making 2 milllion > 5 deals making 2 million.

I think they should leave tax laws alone, stop changing chit every couple years it’s madness. This is a dumb rule to change. It’s not gonna generate enough revenue to make any type of difference. At the same time it’s not going to “kill” real estate like OP of thread titled his thread.
Good to know, I am not well versed in the tax advantages people can take with bigger properties. I agree, i dont think it will "kill" real estate, but I was concerned it would make it harder for people like me to find good deals on investment SFH. Good to know it shouldnt be an issue.
post 1637364893 04-29-2021, 10:22 AM
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#127
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Originally Posted By Anachron⏩
But at the same time, it reduces the number of investors who are completely in SFH - or at least limits their liquidity. These investors exist too...

I truly think that this will reduce the competition, not increase it.

I just thought of this, but the "buy your house for cash" "investors" come to mind.
I can see that perspective. I certainly hope this is the case.
post 1637364903 04-29-2021, 10:22 AM
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Originally Posted By Anachron⏩
Easy AF to get around.
Agree. IRS is worthless, you can practically do whatever you want on this front and they’ll never catch it. Technically that’s the rule.
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post 1637365343 04-29-2021, 10:27 AM
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Originally Posted By criminal_manne⏩
I believe you but there is way more money in apartment development and way less hassle than doing SFH. I can’t see eliminating 1031’s changing the economics because even without them Real Estate still has huge tax advantages.
100% bonus depreciation can generate NOL’s for years, just look at Trump.

1 deal making 2 milllion > 5 deals making 2 million.

I think they should leave tax laws alone, stop changing chit every couple years it’s madness. This is a dumb rule to change. It’s not gonna generate enough revenue to make any type of difference. At the same time it’s not going to “kill” real estate like OP of thread titled his thread.
Won’t apartment real estate become inflated and scarce which will spill over into sfh?
post 1637365513 04-29-2021, 10:29 AM
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Originally Posted By criminal_manne⏩
Hell no. I’m saying they are selling and rolling the property into a new one. They aren’t gonna ever sell and NOT do a 1031. The “deferral” will become permanent. That’s the game.
Ah, that's completely different than the way I was interpreting your comment. That's the point behind 1031's anyway. It's an incentive to keep the money in "play" so to speak.
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post 1637365943 04-29-2021, 10:34 AM
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Originally Posted By lntense⏩
Won’t apartment real estate become inflated and scarce which will spill over into sfh?
I don’t think eliminating the 1031 will change the basic economics. Tax is only one aspect. You don’t invest in a bad deal just because tax reasons. Just my opinion.

I guess it could spillover if no one is selling cause they don’t want to pay tax and they need a place to invest. SFH would maybe be more readily available? That’s speculation though, not sure if that would be the case or not.
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post 1637366183 04-29-2021, 10:36 AM
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Originally Posted By saltypits⏩
This only affects flippers.

Having said that flippers have played a huge part in reviving shthole areas.
1000% wrong breh, affects anyone with 500k wanting to move it to another house or piece of land and in this market, even more of a chance of an owner having $500k to move around
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post 1637366673 04-29-2021, 10:42 AM
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Was talking about this yesterday - this won’t have any negative impact on average real estate since most flippers don’t make anywhere near 500k per flip. If anything it’ll drive prices up with the big boys moving into distributed model of buying multiple smaller cheaper properties and avoiding the taxes that way (why flip a million dollar place vs. buy an apartment building and sell a few condos/buy a block of houses)
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post 1637367103 04-29-2021, 10:48 AM
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My rich real estate friend hasn't paid taxes in so many years. He sells a valuable commercial real estate property for millions of dollars and puts it right into the next property, completely avoiding all taxes. His net worth is over $100 million dollars.


This is going to wreck him and I'm going to laugh my ass off. Why should everyone else have to pay taxes when they buy and sell something except mega rich real estate people?
post 1637367673 04-29-2021, 10:55 AM
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do you guys really think that presidents just announce things and they instantly become law?
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post 1637367723 04-29-2021, 10:56 AM
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so..... sell your house in BTC?

lmao @ the obvious end of the fed here.
post 1637370023 04-29-2021, 11:23 AM
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Originally Posted By ralphlaurenbrah⏩
My rich real estate friend hasn't paid taxes in so many years. He sells a valuable commercial real estate property for millions of dollars and puts it right into the next property, completely avoiding all taxes. His net worth is over $100 million dollars.


This is going to wreck him and I'm going to laugh my ass off.Why should everyone else have to pay taxes when they buy and sell something except mega rich real estate people?
So, what taxes are you referring to that everybody else has to pay?
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post 1637370443 04-29-2021, 11:28 AM
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Originally Posted By HMFIC_BROWSIN⏩
so..... sell your house in BTC?

lmao @ the obvious end of the fed here.
BRB taxed on the transaction and then taxed when selling the BTC for usable fiat
post 1637370593 04-29-2021, 11:29 AM
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Originally Posted By criminal_manne⏩
I don’t think eliminating the 1031 will change the basic economics. Tax is only one aspect. You don’t invest in a bad deal just because tax reasons. Just my opinion.

I guess it could spillover if no one is selling cause they don’t want to pay tax and they need a place to invest. SFH would maybe be more readily available? That’s speculation though, not sure if that would be the case or not.
Already seems like no one is selling. Very difficult to find anything where I’m at for a reasonable price, demand is through the roof and no one wants to sell because there’s nothing really to buy. SFH that is.

I would think things could only be exacerbated from here if it’s already this bad.

Combine that with the printing of all this money, and other factors it doesn’t look promising for the next few years.

Hopefully it won’t get passed though.
post 1637370733 04-29-2021, 11:31 AM
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Rich people making $500k or more on real estate gains paying more in taxes is going to hurt the middle class!!!!!
post 1637372543 04-29-2021, 11:52 AM
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Originally Posted By lntense⏩
Already seems like no one is selling. Very difficult to find anything where I’m at for a reasonable price, demand is through the roof and no one wants to sell because there’s nothing really to buy. SFH that is.

I would think things could only be exacerbated from here if it’s already this bad.

Combine that with the printing of all this money, and other factors it doesn’t look promising for the next few years.

Hopefully it won’t get passed though.
This could lead to a boom in construction though. That means a ton of jobs.
post 1637372923 04-29-2021, 11:58 AM
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If they actually did something useful with the tax revenue, I wouldn't be opposed to it. I'd rather the money stay in individuals and investors hands. They're most efficient at managing the money.
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post 1637376623 04-29-2021, 12:50 PM
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Originally Posted By IH8RICE⏩
This could lead to a boom in construction though. That means a ton of jobs.
With a society that doesn’t want to work because they’re getting government money. Jk


We really are having a difficult time hiring good employees in the construction industry though. Can’t even hire an operator for less than $25 an hour and I’m in the Midwest, some of the lowest cost of living. Even when they’re getting $120 a day per diem and as much overtime as they want.
Originally Posted By _zman⏩
If they actually did something useful with the tax revenue, I wouldn't be opposed to it. I'd rather the money stay in individuals and investors hands. They're most efficient at managing the money.
I agree with that. But given their track record they won’t manage it properly. It’s a useless tax that serves no benefit. Except initially for the government but will backfire imo. Plus they take 0 of the risk. Investors do.

In my experience in business when you take away incentives and the overall work quality due to greed business suffers. Government is a business that doesn’t provide much service.
post 1637379153 04-29-2021, 01:26 PM
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I'm surprised there weren't taxes on flips already, sounds good to me tbh. But if you consider the idea of Timothy buying a $500k house in 2021, and then the same house, including after revamps/upgrades, becomes $1mill+ in 2050, and Timothy decides to finally sell it and upgrade... doesn't seem fair given how long its taken for inflation to work it.
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