I met Kathleen at an open house that I was holding for another property in Newton Upper Falls. Kathleen was in the process of selling a family home owned with her siblings. She didn’t want to get killed in capital gains taxes and learned about deferring the taxes thru a 1031 Exchange. A 1031 Exchange is a program from the IRS that lets one defer capital gain taxes on investment, if the seller reinvests the money in to a like/kind investment. It’s a great program, but very time sensitive and requires a lot of attention to detail on the transaction. I worked with Kathleen and advised her on what type of investment would give a good return, be attractive to renters and have a good appreciation. This deal went very smoothly and I later found her great tenants for the unit.
Her Testimonial:
I worked with Michael last year when I was looking for a 1031 investment property to purchase for the purpose of renting. It is a stressful process due to the time constraints imposed by the IRS. I found Michael to be very knowledgeable about the rental market and was able to identify neighborhoods which are on the upswing. He also helped me look at each property through the eyes of a prospective renter not only with the perspective of a landlord. He showed me many properties and eventually I purchased almost the first one he showed me which really stood out. He was helpful with the negotiation process with the sellers. I purchased a wonderful condo within the time limits
Due to various circumstances, when it came time to rent the condo, it was not at an optimum time of year and I was nervous about finding a tenant in the winter. Michael reassured me that it would rent and sure enough, we found the perfect tenants who moved into the condo in mid-January! I highly recommend Michael for his cheerful, optimistic disposition and his knowledge of the Metro West rental and real estate market.
Kathleen
