All Forum Posts by: Alexander Reyes

I have a weird case to say the least. My parents owned a home in Florida. They’ve been the owners from 2000-2010 when we moved here. When they bought the house, my aunt signed and my parents co-signed because they didn’t have credit at that time. My parents rented the house, everything was trashed, now my cousin who lives in Florida took the house under her wing and has been paying the taxes for the past few years(Willingly). Now my plan for this year is to get the house back from my cousin. Only issue is, she wants me to pay back all the taxes she has paid since then up until now. Is there any legal way to get the house under my name and not have to pay the taxes my cousin has paid? Mind you, my aunt has not paid a single dollar on the mortgage, all she did was sign so my parents could buy the house. My mom wants to give the house to me, and my dad doesn’t seem to care what happens to the house and the only ones fighting to hold onto the house is my aunt and cousin.

@Dan Weber I have a question on that refinance. Wouldn’t I have to make a 20% down payment if I wanted to refinance after I did a forced appreciation? Also what are some examples that I could do for a forced appreciation?

I just bought my house a couple months back. And decided to post it on Zillow to get it rented out. My monthly payments are $1081 and I could get it rented for $1400 and tenant is in charge of utilities as well. The thing about it though is that I have to live in it for a year. What if I don’t want to wait 10 months? Is there a way to get around that loophole? An attorney that is willing to help? Or any ideas?

Where can i get leasing contracts? Any ideas on where to go in the Houston area or some guidance on where to look?

What kinds of questions are the most important for beginner investors to ask a tenant? Is there a certain place I can look to, to find a variety of questions?

@Eduardo Sanchez

Hey Eduardo, I’m currently a young starter as well. I’m only 20 years old, what I’d really stress about is Credit, work history, and have a bunch of money saved up whether that be in a high interest savings account(Not many high interest paying banks because of the virus) also could start off by putting money into the stock market, allow it to grow you some capital meanwhile you shadow someone else with the experience. It’s honestly what I’ve been doing since i was 18 and now had a good amount of capital saved up. I recently purchased a house 3 weeks ago, in rehabbing it and planning on renting it out to a couple coworkers and locking them onto a contract to keep that source of money locked for a good period of time.

@Basit Siddiqi

For right now I’m using it as a primary residence. I want to start using it as an investment property in about a year from now.

@Ryan Lane

Awesome advice!! Very interesting! I will look deeper into this!

@Ryan Lane

For right now it is a personal property, I want to turn it into an investment property within a year from now.

@Cameron Tope

I was trying to get some interesting facts that not a lot of people think about it could use to their advantage as an investor.