Newer Irvine listings with crazy WTF asking prices from equity sellers

NEW -> Contingent Buyer Assistance Program
Burn That Belly said:
I found me a nice shirt for Mety and I.  ;D

27955_fc-barcelona-i-love-fcb-t-shirt---navy_01_l.png

Where are my royalties?
 
momto6 said:
@ BTB, for asking nicely and not demanding it like your distant cousin ??starboy?; I gave you a thank-you

Like your 6th grade friend, Big Belly, you misquote me hatefully.
I never "demanded" anything.  "Demanding"is your word, not mine.
I simply pointed out the ingratitude of the audience here, and many of you affirm my observations. 

"Evil has many tools but a lie is the handle that fits them all." - Chief Justice Oliver Wendell Holmes, Jr.
 
USCTrojanCPA said:
BruinDoc said:
Pretty pricey for Oak Creek per square foot, getting into QH territory.
Maybe a good deal if they stuffed $250k beneath the floor-boards.
https://www.redfin.com/CA/Irvine/7-Hawk-92618/home/4746501

I'll go out on a limb and say that it won't close anywhere near $1.3m.

Still a wise hold 18+ years and they pocket a nice million plus. Assume that they smart and not do any crazy cash out refi. All in the meantime, have a great school and great location.
 
Compressed-Village said:
USCTrojanCPA said:
BruinDoc said:
Pretty pricey for Oak Creek per square foot, getting into QH territory.
Maybe a good deal if they stuffed $250k beneath the floor-boards.
https://www.redfin.com/CA/Irvine/7-Hawk-92618/home/4746501

I'll go out on a limb and say that it won't close anywhere near $1.3m.

Still a wise hold 18+ years and they pocket a nice million plus. Assume that they smart and not do any crazy cash out refi. All in the meantime, have a great school and great location.

Don't they have to pay "ordinary income tax" on all gains over $500k?
 
aquabliss said:
Compressed-Village said:
USCTrojanCPA said:
BruinDoc said:
Pretty pricey for Oak Creek per square foot, getting into QH territory.
Maybe a good deal if they stuffed $250k beneath the floor-boards.
https://www.redfin.com/CA/Irvine/7-Hawk-92618/home/4746501

I'll go out on a limb and say that it won't close anywhere near $1.3m.

Still a wise hold 18+ years and they pocket a nice million plus. Assume that they smart and not do any crazy cash out refi. All in the meantime, have a great school and great location.

Don't they have to pay "ordinary income tax" on all gains over $500k?

I thought it was long-term gains tax (i.e. 15% + state)?
 
Compressed-Village said:
USCTrojanCPA said:
BruinDoc said:
Pretty pricey for Oak Creek per square foot, getting into QH territory.
Maybe a good deal if they stuffed $250k beneath the floor-boards.
https://www.redfin.com/CA/Irvine/7-Hawk-92618/home/4746501

I'll go out on a limb and say that it won't close anywhere near $1.3m.

Still a wise hold 18+ years and they pocket a nice million plus. Assume that they smart and not do any crazy cash out refi. All in the meantime, have a great school and great location.

It'll be more like $700k-$800k after closing costs and a realistic sales price, but yeah they did well.
 
Jantoven said:
aquabliss said:
Compressed-Village said:
USCTrojanCPA said:
BruinDoc said:
Pretty pricey for Oak Creek per square foot, getting into QH territory.
Maybe a good deal if they stuffed $250k beneath the floor-boards.
https://www.redfin.com/CA/Irvine/7-Hawk-92618/home/4746501

I'll go out on a limb and say that it won't close anywhere near $1.3m.

Still a wise hold 18+ years and they pocket a nice million plus. Assume that they smart and not do any crazy cash out refi. All in the meantime, have a great school and great location.

Don't they have to pay "ordinary income tax" on all gains over $500k?

I thought it was long-term gains tax (i.e. 15% + state)?

Yes sir...15% plus potentially 3.8% (high earner tax) plus their marginal state income tax % so could be close to a 30% tax on any gain over $500k.
 
USCTrojanCPA said:
Jantoven said:
aquabliss said:
Compressed-Village said:
USCTrojanCPA said:
BruinDoc said:
Pretty pricey for Oak Creek per square foot, getting into QH territory.
Maybe a good deal if they stuffed $250k beneath the floor-boards.
https://www.redfin.com/CA/Irvine/7-Hawk-92618/home/4746501

I'll go out on a limb and say that it won't close anywhere near $1.3m.

Still a wise hold 18+ years and they pocket a nice million plus. Assume that they smart and not do any crazy cash out refi. All in the meantime, have a great school and great location.

Don't they have to pay "ordinary income tax" on all gains over $500k?

I thought it was long-term gains tax (i.e. 15% + state)?

Yes sir...15% plus potentially 3.8% (high earner tax) plus their marginal state income tax % so could be close to a 30% tax on any gain over $500k.

You can further reduce tax liability with deductions from ALL improments.
Make sure to keep  proper records so you not miss any over the over along period of time.
 
So how does it work with fcb sellers, don?t have to worry about taxes and they can just flip (like btb?s gp weekly reports)?
 
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