All Forum Posts by: Account Closed

I am hoping to learn about any restrictions there might be related to a property owner (my parents) performing a 721 Exchange with a REIT that my siblings and I create. The goal here would be to separate my parents from the risks associated with expanding a rental portfolio. My parents have a small rental portfolio and have never utilized any leverage to expand it (e.g. cash out refi). They have planned to use the rental income for retirement. The REIT taking on debt would reduce the dividends they would otherwise receive - but the reduction in dividends would ideally be temporary.

This is still a very fresh idea but seems to offer many benefits to all members of the family, granted it could very likely become a full-time endeavor for myself. Would this even be legal? Thanks in advance for any advice, comments, or guidance regarding the legality/plausibility of this plan.

@Anthony McEvoy unfortunately, the address for the tax bill is a small business which is now closed down, and the phone number is disconnected.

I recently found an intriguing property when "driving for dollars". Via the county website and some other research, I discovered that not only is the owner listed on the county website deceased, but the entire immediate family is now deceased. If the county has not updated the website, how do I find the owner of the property? Does a bank now own it, and if so, how do I find which one? Thanks in advance for your responses.

I’m struggling to understand how a cash out refi works when using hard money, specifically how the equity works. I’m considering using hard money to flip a sfr but refi rather than sell (BRRRR). Let’s say I put 5-10% down on a hard money loan, after the refi is my equity that percentage of the newly appraised value? Anyone have critiques about this strategy? My initial understanding of BRRRR was that its best to use cash and then just keep 20% in for the refi but I’m wondering how this works with hard money now.

Hi there, I'm new to BiggerPockets but have been looking to get started in real estate for some time now. My question is regarding the best financing options for someone in my position. 

Having never bought a home before and with roughly 30k to put down, would it be wisest to use a first-time home buyer's loan? I want to flip in less than a year (ideally 2-3 months) however my understanding is that a first time home buyer's loan would not be conducive for this. Does hard money sound like the only option for my situation?

In the medium-long term I would like to flip for the next couple years and eventually build a multifamily portfolio that brings cashflow if this makes any difference. I would love to hear any advice you might have, or other suggestions on books or resources . Thanks for your time.