All Forum Posts by: Anna Torba

12 month redemption period in SC. You either get your money back plus interest or a deed to the property shows up in your mailbox with no additional work required.

I got 3 properties last year. 2 houses and an acre of land.

I sold one house as is with a QC deed, the other house my 2 adult sons have bought from me at cost. It is being fixed up to rent right now.

The land I have under contract to sell as is with a Quit Claim deed. I am owner financing it at 12% and 2 points with a balloon payment due in 12 months to a builder.

I made 25k on the house and did no work to it.

The land I'll make about 10k on with no work other than mowing the grass once.

This is the BEST STR loophole. I did a cost seg about $1500 cost and got a $300k depreciation from 1 property! Do you have a good CPA to advise you on how it can work for you? You need to be ACTIVELY managing the property to qualify.