Sell Your Home with Confidence
Organize: First impressions matter, so take the time to clean, declutter, and stage your home before showing it to potential buyers. If this feels like an overwhelming task let me see if there are ways that I can help. Renovate: Repairing minor issues can greatly improve the appeal of your property and attract more buyers. […]
Tired of Managing Rentals?
I don’t know about you, but for me managing rental properties is a real pain. That’s why as a 1031 Exchange professional, I was so pleased to learn about Deferred Sales Trusts. These trusts eliminate the need to purchase more investment real estate during a 1031 Exchange, and allow us to invest in other ways […]
Your Home at its Best
Would you like to have your home redecorated with your own things to help it sell faster? Sometimes a home can have trouble selling for things that seem unimportant to homeowners. A sofa blocking the flow into a room, beds not stylized, and artwork placed poorly may seem like small details. However, these details can […]
Is the IRS Patient?
It seems counter intuitive to think that the IRS wants to offer people the opportunity to reinvest capital gains in Deferred Sales Trusts that allow them to receive income off their gain without first paying the tax. However, if we look at it another way, we see how allowing this process ultimately creates more income […]
Why haven’t I been told about Tax Deferrals?
My clients are befuddled when they learn that there are tax deferral strategies that go beyond 1031 exchanges. There are invaluable strategies for people who want to downsize, and have income without the stress of investment real estate management. People haven’t heard about these opportunities because real estate professionals do not give tax advice, and […]
Missing My 1031 Exchange Deadline?
It was so sad when my 1031 Exchange clients at Old Republic missed their deadlines and had to pay their capital gains. The 45 days to identify and 180 days to purchase put many clients under tremendous pressure. The stress of that possibility kept many from venturing into the process of deferring capital gains. However, […]
Remodel Before Selling?
Many clients think they must have the money to renovate before selling, and stay in their homes even though they want to move to a condo or somewhere else easier to maintain. Fortunately, services exist that will repair, remodel, renovate, organize or deep-clean, and only ask to be paid upon the sale of the home. […]
Downsize & Still Defer Capital Gains?
The biggest problem for my clients at Old Republic 1031 Exchange was the requirement to reinvest everything into replacement properties. I wish I’d known the tools I know now. There exist strategies to defer capital gains while actually downsizing one’s investment real estate portfolio. As a former 1031 Exchange Facilitator and Educator, I found this […]
Cash Poor & House Rich
Several of my neighbors in Carmel-by-the-Sea have complained that they are struggling financially, because they have a valuable home, but not the money to maintain it or prepare it for a sale. Some would like to make the transition to a smaller home or condo so that they can use their equity for expenses or […]
Defer Capital Gains on a Primary Residence?
Several neighbors have discussed with me their desire to sell their home that has become too expensive to maintain, and move to a more manageable home, condo or retirement community. They were worried that they would have to pay too much in capital gains tax because their home has increased so much in value. Fortunately, […]
David Lyng Real Estate Is Pleased To Welcome David O’Neil
With over $79 million in successful transactions, and over 25 years in residential and commercial construction, land planning, development, and real estate, David has helped many clients with his expertise in the industry. He brings global experience from Maui, Orange County, Montecito, and France to Carmel by the Sea. It helps him understand the global real estate market and his local and international buyers and sellers. With his effective marketing skills, he offers exceptional presentations and beautiful advertising both locally and online. His property management, design, and construction skills help him professionally present a client’s property. David’s passion for being of service to others is evidenced by serving on the Board of Directors for the Carmel Residents Association, volunteering with Meals on Wheels, the Carmel Volunteer in Police Service, and the Carmel Chamber of Commerce. ENDORSEMENTS: “You have a keen eye for design, you are bright, you pay attention to detail, you are articulate, you are a good listener and you have a warm and positive personality.” Tasha Witt, Resident, Carmel-by-the-Sea “David is friendly, congenial, caring, intelligent.” Bob Gotch, Volunteer in Police Service, Carmel-by-the-Sea “David, thank you for always being so kind and gracious; it’s wonderful having folks in town with a can-do positive attitude.” Tom Ford, Public Works, Carmel-by-the-Sea "Thanks to you, one of the jewels of Bourg d’Iré has been beautifully restored and opened to the entire community and citizens. Your work with passion is specified in each guided tour of Bourg d’Iré. We were so lucky to have you, and we sincerely regret loosing you.” Sonia Renault, Mayor Adjoint, France (Translated from French)
Defer Capital Gains on a Primary Residence?
Several neighbors have discussed with me their desire to sell their home that has become too expensive to maintain, and move to a more manageable home, condo or retirement community. They were worried that they would have to pay too much in capital gains tax because their home has increased so much in value. Fortunately, there are tools and options that are available to help people defer capital gains tax even with primary residences. A couple of the options include the Deferred Sales Trust and the Delaware Statutory Trust.
By using some of the options available they might be able to make their transition, and potentially use that tax money for income. As an Assistant Vice President for Old Republic 1031 Exchange in the past, these alternatives create a lot of solutions to the problems many of my clients had when researching the traditional 1031 exchange. My friend's situations made me realize that many people do not know these tools are available, and I wanted to share this with our friends and neighbors to make sure they are all taking advantage of the resources provided by these tax deferral options.
As a real estate professional for over 25 years, I would like to help you sell your real estate and potentially defer your capital gains while simplifying your life.
Endorsement:
"David…He is honest, sweet, caring, intelligent, effective, and his motivation is simply to help others.. I’m blessed to know and work with him." — Karyl Hall, Ed.D
Cash Poor & House Rich?
Several of my neighbors in Carmel-by-the-Sea have complained that they are struggling financially, because they have a valuable home, but not the money to maintain it or prepare it for a sale. Some would like to make the transition to a smaller home or condo so that they can use their equity for expenses or vacations, but they worry that they won’t be able to sell their home without the necessary renovations.
It’s a completely understandable concern, but not really necessary. There are general contractors who will finance the necessary renovations with payment upon sale of the home. There are also many people today willing to take on the responsibility of an historic renovation to enjoy its special atmosphere, and to help protect the beauty of previous styles of architecture and craftsmanship. The renovations needed offer them the satisfaction of restoring and taking care of something precious.
At this time I have several buyers who would be very interested in doing renovation projects on all different kinds of architectural styles. I am always happy to discuss possibilities that could resolve some of the concerns for my friends and neighbors, and help sell their properties without worrying about the cost of renovation.
Endorsement:
“I’ve known David for several years now. He’s extremely trustworthy and honest as the day is long. He works incredibly hard to represent the interests of his clients and to make sure they get the best possible results. I cannot recommend him enough.” Judith Jearms
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