All Forum Posts by: Amaya Palmeri

Thank you @Natalie Kolodij! Really appreciate the response on this. 

Hopefully someone can help with this! My question is regarding the sale of our primary residence- my husband had some credit issues way back when so my parents helped us with our loan and we left my husband off the loan and deed when we bought in 2014. In the fall of 2016, we refinanced, my parents quit claim to the property and we added my husband. Now we're selling and it occurred to me that he's been on the deed just shy of 2 years so I'm worried about being taxed on the gains. Is this a legitimate concern if I've been on the deed the whole time? We live in CA which is a common law state if it helps. (Married in 2014) 

Thanks in advance for any insight on this! It's an unusual situation so it's been tough to research.

Thank you all for your responses! It's been incredibly helpful to hear others' perspectives. We decided to sell but as to everyone's question "what would we do with the money?"...well, we're all over the map. We have family we can stay with so we're not in a huge rush on the buy side but here are a few ideas we're throwing around.

1) Look for a SFH in an area with a lot of appreciation potential in the next few years (thinking Inglewood in light of the new stadium and all the development down there)

2) Look for a 2-4plex in Torrance/Redondo area- live in one, rent the other.

3) Look for better cash flow and lower purchase prices out of state- would focus on MF properties.

Once we narrow down which direction we're going in, I will absolutely reach out to those offering their services/expertise. (Also, totally open to opinions on these strategies or others we haven't thought of!)

Thanks again for all the support!

Hi there, long time listener to the podcast, first time poster here. My husband and I have a two bedroom condo in Playa del Rey which has seen significant appreciation in the past few years. We're trying to decide whether to hang onto it, become landlords and use the equity to purchase our next place or just sell, take the profit and focus on purchasing another fixer-upper in an area we foresee appreciation. (Los Angeles wouldn't be my first choice to have a rental due to the amount of capital it ties up but with all the tech companies moving down to this area, it's making us consider a longer-term strategy.) Any input is appreciated!