All Forum Posts by: Ben Weis

thanks for the note michael.

the cash out refinance sounds interesting, though i want to make sure i fully understand it.

• it's worth noting that my partner's parents own all three homes, there are no mortgages.
• would it be important that my partner and i own the title to the home? if so, do you know if she could be gifted the title to the home? or maybe my partner, myself, and my partner's parents could form a legal entity so we can all own the titles?
• is the process: a) get a loan for the equity in one of the rentals b) use the cash from that loan, in addition to the mortgage we qualify for, to pay for a home of our choosing c) pay off the rental property loan using the rent generated by the rental tenants? 

seems like a good plan if that's the case.

thanks michael. it is an unbelievably generous gift. a few details:

• our goal is to own in oakland, berkeley. albany or el cerrito if need be.
• we do not want to live in one of the properties.
• i'm not certain on values, somewhere in the $350k-$450k range
• the 1031 exchange seems the most ideal as it allows us to make some improvements to the rental, sell it, and roll that into a home in an area we're interested in living in. 

i appreciate the offer. we're in the learning stages and would love to know more about 1031 exchanges and how we can best structure it.

i’d love some help with my first time homebuyer situation.

i know very little about home buying and we’ve heard there’s a few strategies for making the most of this gift.

i’d love to know more about what you all know about how to get the most out of this situation. i’ve done some research on 1031 exchanges and we’re learning more about what kinds of entities we might need to set up. we’re very early in this process and any advice would be greatly appreciated. thank you in advance, happy to give more details if that helps.