All Forum Posts by: Alex Duarte

Hi Jonathan, 

Not sure whether you found a property yet but I have two awesome opportunities coming soon on the market. One is in Fountain Valley and the other is in Santa Ana. Both are great units to house hack, since they have their own entry points to the unit so essentially you would never see the tenant. 

Let's connect if this is something you might be interested in. 

 I see what you're saying and that makes sense. Do you know if they have to pay taxes on the total mortgage payment (income for seller) or just the interest rate that is charged for the year? 

Very great information. I forgot to mention in my original post that this is a rental property and not a primary so they don't have home owners exemption, unfortunately. The main objective for them would be to cash out their rental and just have the cash liquid. No desire in 1031 exchanging. 

Do you have any alternative solutions to something like this?

They did speak to their CPA and they ran the numbers on what they would pay in capital gain taxes if they cashed out. They have no desire in continuing to landlord unfortunately so the only way they would consider unloading this property is if it made sense for them. Thank you for your input.

Hey BP community!

My business partner and I were wondering if there were any local meet ups/networking events in Orange County, CA? I'm a top producing realtor in the area and also invest in Real Estate.

I currently have 3 doors, ones a Duplex and the other is a SFR. Both are buy and holds for me. I'd love to chat about my experiences and also brainstorm with other investors to help each other grow.

If there's nothing in the area that's set up already, I'd love to chat about how we can get something going.

@Caroline Gerardo I'm located in Orange County, CA. I'm trying to see what would be the best way to structure this deal. Owner doesn't want to sell because they will pay nearly $100k in capital gain taxes so I'm trying to get creative here. Thanks for your input!

Hey BP community!

I've been wondering a bit more about seller financing as of recently (thanks to Pace Morby's ep).

My question is if a person owns a property (rental) and they seller finance instead of selling the property and paying a huge chunk of capital gains, does the fact that they seller finance the deal would that mean they don't pay capital gain taxes?

@Michael Gansberg I appreciate the insight. It was only a question I wanted to ask to see if anyone's ever dealt with something similar to this. I'm OK with the proposed rents from Sec. 8 since I ran my protections on $1800-1900/mo. I'll be positive cash flow at this rate, so I'm one happy camper nevertheless.

Everyone, I appreciate you all taking the time to respond and chime in. 🙏

@Susan Maneck Yeah that's what the case worker mentioned since they would flag it as "fraud" for the tenant.

@Scott M. That makes complete sense. That's what the case worker told me. Something to really think about at this point then... the applicant mentioned she has another homeless housing assistance (separate from sec.8) that would be willing to fill in the gap but I don't think sec.8 will allow it.

Has anyone ever had this happen? Where a tenant is wanting to double up on their housing assistance to cover rent?

Yes thats correct for my area. She mentioned for Los Angeles County it would be the same all across the board for sec. 8 as for fair market rent limit.

Does anyone have any idea on incentives? They offered me an additional $1000 up front if I decide to move forward. Do you know if this is negotiable or is this a set price/ incentive per location?