Transferring properties

[Aaron Barrett]

My mother is nearing the end of her working life and wants out of her 3 investment properties. I want to began my investing career at this time. Ideally I would like to have the properties transferred to me and I would return an income stream off the cash flow to her to pay her back for the properties. That being said, I won't follow that method if the gifting of the properties to me would have a large negative impact on her taxes. Thoughts? Location is Wisconsin

[Dustin DeSmith]

I always feel bad for locals during events, but let them enjoy our money we blow. 

If she deeds you the property then you will be at her basis, lets say she paid $25,000 years ago and now its worth $100,000 you sell it out right you get taxed on on the 25k she paid instead of the profit over the 100k, now if her net worth is under 5 million she can use some of her uniform estate tax credit to not have gift tax. But if she is selling them to you just have her owner finance and let her enjoy the income. 

also if you use the tax credit then make sure you talk to an estate planning attorney as I am not a attorney, nor do I play one on tv, and I know I didn't stay in a holiday express last night, lol