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Updated almost 3 years ago on . Most recent reply

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Jessie Rude
  • Quad Cities
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Very unique primary/investment buy

Jessie Rude
  • Quad Cities
Posted

In need of advice on a creative way to move forward on a contract I signed. This purchase is one price for two properties on two separate parcels, a primary residence for myself and a carriage house that is divided into three rental units. Per the county, the parcels are unable to be combined, so there will have to be two separate mortgages. I am new to all of this and am in dire need of advice! My realtor suggested writing the carriage house as 100k and the primary house as 320k. This could be flexible if there is a benefit to changing things. I need to know if I should change the price… if I should creat an llc and purchase the rental under that? Should I purchase both properties and rent out the rental to my llc? I have a regular job that I am heavily taxed on and want to know what the right move is to help deduct as much as possible during tax time. Both properties need work.

Please help!

Jessie 

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