[BrokeAssMillionaire]

Happy holiday 

Correct, there is penalty to take out early. That's why I am still broke 

At least another 4 years to take out so I plan to keep as high risk plans if the market is going well. Then move all out to IRA to get a way from $550 statement fee/year but this is a disadvantage of gaining. When I started in 99 where the DOW was 10k pts so i got in dirty cheap funds up to 2010. So I would lost all the benefit of cheap stocks and have to start over with IRA which I may not. Probably, use the money to get 5% CD if it's available. That would be the safe way continue to gain without loss. If I don't care the statement fee, I will stay with the company retirement and may continue big gain (big loss if crash). So far, the average gain is from 10%-22%. i have been in 3 crashes which I didn't worry much since I can't cash out until 60 anyway.

I won't take out that big monthly paycheck, probably 1/5, the tax would slap in my face. My plan is 20 years take out from 60-80 even thought don't know how long I can live    It's ok, the money can go to my beneficiary. 

10 years ago, I was expected the DOW would be 40k pts, it seems coming, that's my goal to move all out of high risk funds. I am kinda gamble with high risk so I really don't recommend you do that since the market has been crazy for the last 3 years unless you don't really need until 60 then high risk would be better gain.

I am starting travel here and there more often, maybe 1 month in each country....lol... However, I am not too crazy to spend big, still conservative except spending a little bit more. 

[TiểuHồLy]

Happy holiday 

Correct, there is penalty to take out early. That's why I am still broke 

At least another 4 years to take out so I plan to keep as high risk plans if the market is going well. Then move all out to IRA to get a way from $550 statement fee/year but this is a disadvantage of gaining. When I started in 99 where the DOW was 10k pts so i got in dirty cheap funds up to 2010. So I would lost all the benefit of cheap stocks and have to start over with IRA which I may not. Probably, use the money to get 5% CD if it's available. That would be the safe way continue to gain without loss. If I don't care the statement fee, I will stay with the company retirement and may continue big gain (big loss if crash). So far, the average gain is from 10%-22%. i have been in 3 crashes which I didn't worry much since I can't cash out until 60 anyway.

I won't take out that big monthly paycheck, probably 1/5, the tax would slap in my face. My plan is 20 years take out from 60-80 even thought don't know how long I can live    It's ok, the money can go to my beneficiary. 

10 years ago, I was expected the DOW would be 40k pts, it seems coming, that's my goal to move all out of high risk funds. I am kinda gamble with high risk so I really don't recommend you do that since the market has been crazy for the last 3 years unless you don't really need until 60 then high risk would be better gain.

I am starting travel here and there more often, maybe 1 month in each country....lol... However, I am not too crazy to spend big, still conservative except spending a little bit more. 

 Bro!

Thanks for bringing up this subject. I completely forgot about 401k since the stock market crashed a few years ago. As for your intention sharing, I looked it up, and surprisingly, it's doing pretty well. One of my highest CDs was 4.95% for five years, and my savings account is currently above 5% APR. Any suggestion for a better deal or investment, bro?

[BrokeAssMillionaire]

As I mentioned before, I am a high risk and no reading and study before buying   so don\'t take any recommend from me.

My 401k has around 20 different funds, so I look at the list of highest gain to jump in. Gain from 5% to 22% so I have been picked those high risk that gains from 18% - 22%. Yeah, I was in crash 3 times since 99 which it didn't bother me and never touch but keep contribute.


There are a lot of plans but will see what it's going on in the next few years. I may or may not continue high risk when I reach 60. If I continue to plan high risk, I would move 1/4 out to cash saving in 401k that would be enough for 4 years withdraw. It's good that my 401k has cash saving option that gains only at 1-2%. 

For my individual Roth account for each year of contribution, I usually go to Fidelity Midcap and search for highest gain then jump in. I start late with Roth in the last 10 years, so I don't have much in Roth.  If you have extra cash, better to put in Roth as early in your 30s. Starting Roth at 40s or 50s is kinda late. 

[TiểuHồLy]

As I mentioned before, I am a high risk and no reading and study before buying   so don\'t take any recommend from me.

My 401k has around 20 different funds, so I look at the list of highest gain to jump in. Gain from 5% to 22% so I have been picked those high risk that gains from 18% - 22%. Yeah, I was in crash 3 times since 99 which it didn't bother me and never touch but keep contribute.


There are a lot of plans but will see what it's going on in the next few years. I may or may not continue high risk when I reach 60. If I continue to plan high risk, I would move 1/4 out to cash saving in 401k that would be enough for 4 years withdraw. It's good that my 401k has cash saving option that gains only at 1-2%. 

For my individual Roth account for each year of contribution, I usually go to Fidelity Midcap and search for highest gain then jump in. I start late with Roth in the last 10 years, so I don't have much in Roth.  If you have extra cash, better to put in Roth as early in your 30s. Starting Roth at 40s or 50s is kinda late. 

Thanks for your valuable input and honesty, bro.  I admitted that I did not read every single one of your posts. It's seemingly trading your shares on your own. Are you a self-managed account? If yes, wouldn't you mind giving the pros and cons based on your experiences/opinions? I hired Fidelity to do all the work and paid .30%. Besides, I opened a SEP-IRA more than a decade ago. It gains above 3% currently. Please share your thoughts if those tentative plans turn out smoothly and fruitfully.

[BrokeAssMillionaire]

Yes, always self-managed all accounts even rental and doing tax return. I refuse to have someone to do for a fee. That's what you educated for.

Not sure about pros and cons:
-cons: pay fee + % of gain (stock up) , pay fee + loss (stock down)
--If you think they manage and never negative your account, then they won't do this job. They can be millionaire.
--They're millionaire because they make money from you

-pros: they find the funds for you. However, when the market down, you loss too. That's what happen to my cousin that let them to manage his account. It's no exception, they can't predict the future.

Everyone would gain a lot if they join 10 years ago whatever funds they got in. Any funds you get in for the last 2 years may not gain much as you have seen the market up/down. Those of my funds have over 50% gain because it was in before 2018. Anything I am in after 2019, I would say 3% or get even.

For example of my 401k, my check contribute on first of the month and I realize that the first of the month, the market always up. Then it's down after that. So the last 2-3 years, my 401k wasn't gain much except the big gain was the funds from the last 17 years. This is my last year of contribution so I crack up $61k total for Roth 401k and 457b, then keep it until they force me to take out since it's after tax, otherwise, I don't really the cash. This is the reason I don't want to pay fee for someone to manage my account. It's kinda ridiculous.  

[TiểuHồLy]

Yes, always self-managed all accounts even rental and doing tax return. I refuse to have someone to do for a fee. That's what you educated for.

Not sure about pros and cons:
-cons: pay fee + % of gain (stock up) , pay fee + loss (stock down)
--If you think they manage and never negative your account, then they won't do this job. They can be millionaire.
--They're millionaire because they make money from you

-pros: they find the funds for you. However, when the market down, you loss too. That's what happen to my cousin that let them to manage his account. It's no exception, they can't predict the future.

Everyone would gain a lot if they join 10 years ago whatever funds they got in. Any funds you get in for the last 2 years may not gain much as you have seen the market up/down. Those of my funds have over 50% gain because it was in before 2018. Anything I am in after 2019, I would say 3% or get even.

For example of my 401k, my check contribute on first of the month and I realize that the first of the month, the market always up. Then it's down after that. So the last 2-3 years, my 401k wasn't gain much except the big gain was the funds from the last 17 years. This is my last year of contribution so I crack up $61k total for Roth 401k and 457b, then keep it until they force me to take out since it's after tax, otherwise, I don't really the cash. This is the reason I don't want to pay fee for someone to manage my account. It's kinda ridiculous.  

You sound like a financial advisor, eh? Thanks again, bro!  I am learning and pleased to have our conversations continuing. 

I did try to manage the investments by myself after researching. Perhaps I lack experience and do not have expert predictions of the stock market; thus, it came out not as prosperous as I thought but as headaches and a waste of time. The SEP-IRA just got back on track; after a thorough calculation, I realized that the gaining percentage wasn't alarming. I am also doing my tax returns and will bring the civil complaint to the superior court for persuasion and verdict to the plaintiff (for arguing practice). 
Kindly guide me on self-managing the rental property at your convenience, bro. I appreciate it! 

[BrokeAssMillionaire]

Speaking of rental, it's on first page, post #7 https://vietbestforum.com/thread-22888-p...#pid397783

Of course, it gives you more headache and stress.  Because of my basic background, it's pretty easy to get anything from google as long as you know the keyword. For example: when you manage rental property, what are you looking for? The keyword: depreciation (it will tell you why you want to sell after 5-6 years), etc. What benefit of depreciation. Rental home repair. Adv. and Disadv of getting pay by check and cash. Then you would know how to take care the tax return by yourself to maximize the return. Let say you get 100K depreciation where they deduce 20k/yr that would take 5 years. So it's best you sell the rental or stop renting because you no longer get much deduction. By this time, you would get slap with big tax.

A few options to sell rental property: You can find these on google. Start learning how to search then you will find all the answers
1. If you bought for 100K, 5 years later 300k. If you sell, you would end up to pay 60K tax on 200k gain
2. Convert to primary home and live there for 3 yrs (2yrs by law), then sell as primary so no tax pay if gain under 250k for single.
3. If you put as vacation/secondary home, you still pay tax as #1
4. The only way to run away from tax is as primary home. Just use your name on elec. and gas bills for 2 years and save it for tax return.
5. If you bought for 100k, 5 years later 110K, then forget all the steps above to save headache because tax on 10k gain is not that much.

[TiểuHồLy]

Speaking of rental, it's on first page, post #7 https://vietbestforum.com/thread-22888-p...#pid397783

Of course, it gives you more headache and stress.  Because of my basic background, it's pretty easy to get anything from google as long as you know the keyword. For example: when you manage rental property, what are you looking for? The keyword: depreciation (it will tell you why you want to sell after 5-6 years), etc. What benefit of depreciation. Rental home repair. Adv. and Disadv of getting pay by check and cash. Then you would know how to take care the tax return by yourself to maximize the return. Let say you get 100K depreciation where they deduce 20k/yr that would take 5 years. So it's best you sell the rental or stop renting because you no longer get much deduction. By this time, you would get slap with big tax.

A few options to sell rental property: You can find these on google. Start learning how to search then you will find all the answers
1. If you bought for 100K, 5 years later 300k. If you sell, you would end up to pay 60K tax on 200k gain
2. Convert to primary home and live there for 3 yrs (2yrs by law), then sell as primary so no tax pay if gain under 250k for single.
3. If you put as vacation/secondary home, you still pay tax as #1
4. The only way to run away from tax is as primary home. Just use your name on elec. and gas bills for 2 years and save it for tax return.
5. If you bought for 100k, 5 years later 110K, then forget all the steps above to save headache because tax on 10k gain is not that much.

I am grateful for your words, bro.  

Yes, I learned the depreciation trick in real estate investment. Discussing the conversion from investment property into primary is not a good choice for me as I admire the Asian's slogan, "An Cu Lap Nghiep/stable residence before advancing your career." I started rental investment and managed it from outside the state. The renters signed three-year contracts, but after one year, they backed out. It left me a lot of damage to repair. Luckily, I lost a bit after I sold that house. 

Bro, I heard a different way to least the rental property taxes by investing the entire money from previous selling into another investment property. Have you tried or experienced it yet? Do you mind sharing your thoughts?

[BrokeAssMillionaire]

I don't know if you have done a feasibility study of renting property before jump in but I know people around me don't. All they see is if the mortgage is $1k and renting is $1500, then there is $500 in their pocket.

For me the only way I would is pay off the rental property with cash, no mortgage. If you use Mortgage Calculator for 15 or 30 years,
you would end up pay more than you bought. So in short term, you get extra monthly income while you lose more on long term.

This may be benefit for people with low income so they can maximize the tax deduction. Don't forget if yours adjusted gross income is over $150k, you won't get any depreciation.
 
I believe you have 45 days to invest another property after selling and need to close the deal before 180 days. Otherwise, you would have to pay tax on capital gain. And the new property has to be equal or more. For me, 10 years is enough. I don't want to end up another 10 years of stress.

There are more rules and regulations than you can think of. It's complicate. All they want to do is sell, pay tax, and get over it. If you really want to go every detail how to maximize the tax and capital gain, you would end up to read more than 100 subjects related to the rental because 1 thing is lead to another. 

When you reach 55, search for Property Tax Base Transfer if you plan to buy a new house. For example, you sell the old house for $500k, the new house house has to be $500k or less, then you can transfer the old house's property tax to the new one. Let say my old house was $100k with property tax $1700. At 1.12% tax rate, $500k would end up around $5600 tax. Fill out the Property Tax Base Transfer that allows me continue paying $1700 instead of $5600 property tax. I believe it's available in every state with different rules. And only apply 1 time in your life.

Everyone has different income, so all of these may work/not work at all. You have to figure out the best benefit by yourself. And nothing is easy to earn money. :)

[TiểuHồLy]

I don't know if you have done a feasibility study of renting property before jump in but I know people around me don't. All they see is if the mortgage is $1k and renting is $1500, then there is $500 in their pocket.

For me the only way I would is pay off the rental property with cash, no mortgage. If you use Mortgage Calculator for 15 or 30 years,
you would end up pay more than you bought. So in short term, you get extra monthly income while you lose more on long term.

This may be benefit for people with low income so they can maximize the tax deduction. Don't forget if yours adjusted gross income is over $150k, you won't get any depreciation.
 
I believe you have 45 days to invest another property after selling and need to close the deal before 180 days. Otherwise, you would have to pay tax on capital gain. And the new property has to be equal or more. For me, 10 years is enough. I don't want to end up another 10 years of stress.

There are more rules and regulations than you can think of. It's complicate. All they want to do is sell, pay tax, and get over it. If you really want to go every detail how to maximize the tax and capital gain, you would end up to read more than 100 subjects related to the rental because 1 thing is lead to another. 

When you reach 55, search for Property Tax Base Transfer if you plan to buy a new house. For example, you sell the old house for $500k, the new house house has to be $500k or less, then you can transfer the old house's property tax to the new one. Let say my old house was $100k with property tax $1700. At 1.12% tax rate, $500k would end up around $5600 tax. Fill out the Property Tax Base Transfer that allows me continue paying $1700 instead of $5600 property tax. I believe it's available in every state with different rules. And only apply 1 time in your life.

Everyone has different income, so all of these may work/not work at all. You have to figure out the best benefit by yourself. And nothing is easy to earn money. :)

I have invested twice in the real estate world. Both had a mortgage loan on them. First, I bought a house in Sacramento and individually rented out the rooms. Nearly 14 months later, I was forced to sell it since my renters caused trouble for the HOA and the neighborhood. I profited well from this trade by claiming it as my primary residence. Second, I bought another house in Arkansas and rented it to my relatives because of their unsatisfactory tenant screening results. The story ends with discontented, as I mentioned in a previous post.

I heard my adopted sister claim she is a millionaire as she keeps trading rental properties repeatedly without paying a penny in taxes. Hence, I illustrate, and the skeptical question arises.  

It's not easy to make money, indeed. The PTBT applies to the primary house only, right? I discovered that my state doesn't impose real estate transfer taxes on buyers or sellers according to Proposition 100 (Protect Our Homes Act), which was enacted in 2009. Ironically, I couldn't have any depreciation or prevail benefits from tax deductions. 

Hey, bro! Any knowledge of the living trust field? Mind guiding me again?

[BrokeAssMillionaire]

If you bought houses around 2012 in Sacramento
-$100k-$150K, you would get triple by now
-$300k-$700k, you would get double.

I was able to get two while one of my friend got 4. He hits the jackpot. I believe it was double in 2019. I almost got the third one for $80K, made mistake that I thought I didn't have cash for it. Otherwise, another $200K in the pocket. Most of houses built after 2003 has HOA. It's a robbery and a scam from builders and HOA. Recently, new builders get rid of the HOA. I always stay away from HOA.



You really can't run away from tax, you still have to pay at the end unless cheating. The only way is a primary home. A lot people are millionaire in California by choice ...lol.....However, they don't have much cash. I know a few of them that bought the house for $250k, now value around 1 million. The problem is the property tax and home insurance are around 10K, and they can't really quit job because they can't afford it. Even their SSA are only around $1500/month, it's not enough cover unless they sell and move to a cheaper city.

Living Will and Living Trust are different but pretty much similar. So I pick Living Will, it's simple to fill out.  Well, you have to do research in your state to see if you can save money for lawyer. California doesn't require lawyer to do the Will and Trust. Here is what I did below.

1. 401k companies and Individual stock account (Fidelity, etc.), both have online beneficiary which you can login to add Name, BD, SS#, and percent for each person. This will get rid one part of Will / Trust. For bank, I did over 10 years ago where it didn't have online option so I did in the bank office. Very easy, go to bank, give them the name and percent of each person.

2. Home and other assets: Look for Living Will / Trust software or download the forms to fill out. Couple options below for signature.
-----California: just sign and date (Update anytime you want)
-----California: look for any notary license to witness your signature and date. That costs around $15
-----Can get the notary at your Bank too, same $15 cost
-----Lawyer: cost around $3k - $3.5K

Don't forget to research if your state requires lawyer or not for Living Will / Trust. Every state has different laws. It would save you unnecessary cost. Even the California said no lawyer need but some people don't know like my cousin she is smart thought but she still paid $3500 to do Living Trust.....lol....

I couldn't remember the different of Will vs Trust but remember the Will is more easy. However, I got the software, so I did both Will and Trust then sign and date the forms. I only have homes for this so it's more easy, don't need to fill out too much since I did other beneficiaries online.

For California, even you don't have Living Will / Trust, it automatically goes to Next Of Skin. Unless there are two of them fighting for it....lol...That's where lawyer would get 30-40% to settle.

[TiểuHồLy]

If you bought houses around 2012 in Sacramento
-$100k-$150K, you would get triple by now
-$300k-$700k, you would get double.

I was able to get two while one of my friend got 4. He hits the jackpot. I believe it was double in 2019. I almost got the third one for $80K, made mistake that I thought I didn't have cash for it. Otherwise, another $200K in the pocket. Most of houses built after 2003 has HOA. It's a robbery and a scam from builders and HOA. Recently, new builders get rid of the HOA. I always stay away from HOA.



You really can't run away from tax, you still have to pay at the end unless cheating. The only way is a primary home. A lot people are millionaire in California by choice ...lol.....However, they don't have much cash. I know a few of them that bought the house for $250k, now value around 1 million. The problem is the property tax and home insurance are around 10K, and they can't really quit job because they can't afford it. Even their SSA are only around $1500/month, it's not enough cover unless they sell and move to a cheaper city.

Living Will and Living Trust are different but pretty much similar. So I pick Living Will, it's simple to fill out.  Well, you have to do research in your state to see if you can save money for lawyer. California doesn't require lawyer to do the Will and Trust. Here is what I did below.

1. 401k companies and Individual stock account (Fidelity, etc.), both have online beneficiary which you can login to add Name, BD, SS#, and percent for each person. This will get rid one part of Will / Trust. For bank, I did over 10 years ago where it didn't have online option so I did in the bank office. Very easy, go to bank, give them the name and percent of each person.

2. Home and other assets: Look for Living Will / Trust software or download the forms to fill out. Couple options below for signature.
-----California: just sign and date (Update anytime you want)
-----California: look for any notary license to witness your signature and date. That costs around $15
-----Can get the notary at your Bank too, same $15 cost
-----Lawyer: cost around $3k - $3.5K

Don't forget to research if your state requires lawyer or not for Living Will / Trust. Every state has different laws. It would save you unnecessary cost. Even the California said no lawyer need but some people don't know like my cousin she is smart thought but she still paid $3500 to do Living Trust.....lol....

I couldn't remember the different of Will vs Trust but remember the Will is more easy. However, I got the software, so I did both Will and Trust then sign and date the forms. I only have homes for this so it's more easy, don't need to fill out too much since I did other beneficiaries online.

For California, even you don't have Living Will / Trust, it automatically goes to Next Of Skin. Unless there are two of them fighting for it....lol...That's where lawyer would get 30-40% to settle.

You're right about California's unpredictable escalating estate property prices. Some states keep increasing the assessed values to tax the owners. "Under the table jobs," renting the dining room, living room, and car garage for cash, etc., makes a few Californians choose to stay even though they could sell their million-dollar house and find a snug life in another state with cheaper cost-of-living.

Do you believe in the lucky chance not coming often in a lifetime? I recall 2011, when the real estate market was still in a crash recess, causing the abandoned houses and emptied business buildings to be listed for sale. I was one of the cash buyers. Unfortunately, my offers were rejected because I did not boost the prices as requested by the listing agency. 

To implement a strategy to least strictly documents from banks for beneficiaries, deter inheritance's burden from taxes, and avoid probate, I am seeking a Living Trust. 

I have a tax question for you, bro! Back to my adopted sister's story, she bought her 1st house for $105k, then traded with another for $400k. How is her estate tax liability if she sells that rental property for $1.2 mil? 

[BrokeAssMillionaire]

Why not ask your sister? She probably knows everything unless she has tax advisor ...lol...

I don't research anything that I don't need so I only focus with Primary resident issue.

I used to offer 5k-50k below the asking price in order to wait for counter offer for 2 years. Then I gave up. However, in 2012 I got a hook up with realtor agent that happened to be my old friend, that's where she 's on my side to help with counter offer. If you don't have a good agent, they don't really care if you can buy it or not.

The key is primary resident is waive capitol gain tax of 250k for single and 500k for couple. So no matter how she keeps trading the new rental property, she would have end up with tax when she no longer own any rental property. Even her kid inheritance rental property, the kids have to convert the rental to primary and live over 2 years to get away from tax.

Trading new rental property is complicate. I don't really know much.  I think you have to announce new rental property in 45 days then close out in 180 days but there is still tax issue. I have other job, this is not benefit for me, no time for it.

Case 1
Let say she sold a rental property at 450K when she bought for 100k
-Bought 100K
-Sold 450K
-Gain 350K
-Got a new rental property for 500K (cash 50K + 450K)
-Tax: 450k - 100K(initial invest) - 50k cash = 300k < tax
---Short-term gain tax (less than a year own) = 10-37% whatever total with other income
---Long-term gain more than a year = 15% or 20% depend on your income

-If you don't want to pay tax on 300K gain, you want to get 800K new property....That's what I guess, I may be wrong.

Case 2
-Bought 100K
-Sold 120K
-Gain 20K
-Got new property 140K (120k + cash 20k)
Tax: 120k - 100K - 20K = 0 --> no tax

Most people are into case 2 with it may be your sister.  Case 1 is pretty rare that only happen in 2002 and 2012. And I am happen into case 1. 

Note: I am not expert, you have to do more research because I only focus on primary issue so I know more about it. Tax would apply even you put it as a vacation home.

[TiểuHồLy]

Why not ask your sister? She probably knows everything unless she has tax advisor ...lol...

I don't research anything that I don't need so I only focus with Primary resident issue.

I used to offer 5k-50k below the asking price in order to wait for counter offer for 2 years. Then I gave up. However, in 2012 I got a hook up with realtor agent that happened to be my old friend, that's where she 's on my side to help with counter offer. If you don't have a good agent, they don't really care if you can buy it or not.

The key is primary resident is waive capitol gain tax of 250k for single and 500k for couple. So no matter how she keeps trading the new rental property, she would have end up with tax when she no longer own any rental property. Even her kid inheritance rental property, the kids have to convert the rental to primary and live over 2 years to get away from tax.

Trading new rental property is complicate. I don't really know much.  I think you have to announce new rental property in 45 days then close out in 180 days but there is still tax issue. I have other job, this is not benefit for me, no time for it.

Case 1
Let say she sold a rental property at 450K when she bought for 100k
-Bought 100K
-Sold 450K
-Gain 350K
-Got a new rental property for 500K (cash 50K + 450K)
-Tax: 450k - 100K(initial invest) - 50k cash = 300k < tax
---Short-term gain tax (less than a year own) = 10-37% whatever total with other income
---Long-term gain more than a year = 15% or 20% depend on your income

-If you don't want to pay tax on 300K gain, you want to get 800K new property....That's what I guess, I may be wrong.

Case 2
-Bought 100K
-Sold 120K
-Gain 20K
-Got new property 140K (120k + cash 20k)
Tax: 120k - 100K - 20K = 0 --> no tax

Most people are into case 2 with it may be your sister.  Case 1 is pretty rare that only happen in 2002 and 2012. And I am happen into case 1. 

Note: I am not expert, you have to do more research because I only focus on primary issue so I know more about it. Tax would apply even you put it as a vacation home.

That's why I was evasive and advised her to discuss the issues with the CPA/tax preparer, but it seemingly received dubious answers, so she kept asking me sometimes. Based on her supplemental information, I assume she would inextricably fuddle up when ending rental properties. 

Yes! Perhaps I don't have a "profit connection" with those real estate agents. From the beginning, I could feel the fishy games, so I persisted in my offer. I was informed that the other offers were about 40% above the asking price. Later, I discovered that the sold price was $5k higher than my previous offer.

I appreciate and will relay these pretty profound tips, brother. She was in case 1 and had a long-term gain similar to yours. Due to her current health conditions, she would like to end the rental investment and determine how much she gains after all those struggling times.

The IRS allows 1031 exchange intermediaries (exchanging a rental property for a vacation or second home). FYI, if needed. 

I missed earning interest without Uncle Sam's ......from Switzerland's banks. Bro! Do you have any foreign or other good advice for investing nowadays? Would you mind sharing? 

[BrokeAssMillionaire]

Seem like she didn't know much. As you know, most Viet people don't want to pay CPA unless they have business 

It's only shock them after they sell the house then fill the income tax return. Let say she gains 50k after selling the long term rental home, She probably pays 8K tax of 15% which it's not that much to be hassle. But 300k gain is big.

My agent even rejected a higher bids so the final bidding day, she told bank that I was the highest one :) while I offered lower.

1031 exchange is the one on case 1 that I mean trading new rental.

Foreign or other good advice for investing nowadays : NO ..lol.... no more investing, need to hurry spending and how to take out 401K to lower the tax. 20k/year would lower the tax bracket at 13% which will take 100 years to withdraw all... lol.. Do you think I can live that long?