AboutReza Ardebili Expertise I am a Real Estate Broker. I own my own properties, and I build many 3 family homes.
I can answer all aspects of purchasing/selling/researching on real estate in NY.
I specialize in 2/3 families in NYC (5 boroughs). I can also help you through the process.
BROOKLYN, MANHATTAN, BRONX, QUEENS’s properties in which you can build equity and your rental income pays for your mortgage is a very good idea. Most properties I sell/build are in this category.
Hope I can be of help.
Experience I have been in this field for 8 years now. New Construction, and finding investment properties are 2 of my specialties.
Organizations I own my own real estate company. I am a Realtor. MLS member.
Education/Credentials I am a Rutgers University Graduate. I recieved a B.A. in CIS. Minor in bussiness.
Awards and Honors Just many thanks from the families I helped. That is enough award for me.
Question Developers wish to exchange two dilapidated houses for our one functional house (it's not our primary residence, it used to be, we've moved out and now its a rental property). We're asking for cash on top to have the houses repaired. Does the exchange qualify as 'like-kind'/1031? And if it does, how much in percent taxes could we expect to pay on the cash?
Answer Hi Erol
i am not sure about this question. even though in my firm we do alot of 1031 exchange, but this is more of a legal question than real estate.
I know there is no taxes on certain amount of the cash that you get. and as long as you are changing residential with residential, you should be fine.
You might have to consult it with a lawyer or tax attorny. thanks.
if you have any concerns in real estate you can call me 917 379 5383 Reza.
