All Forum Posts by: Carl Griggs

Thank you @Bill Exeter and @Scott Wolf

That was a lot of useful information.

Would it be beneficial to simply have her add me to the deed or would this also create tax implications? In a perfect scenario, I would like to create a way to 1031 the exchange while not risking any of the capital that I put into the home.

It is obvious that I do not want to harm either of our taxes but I also cringe at the thought of putting money in a home that I do not own... Even if it is my Mother's house.

Hello all. I am excited to be here. I am a new investor that will be working in the Houston to Galveston TX area. However, I am currently working my first deal as an out of state acquisition. I look forward to meeting new people in my area to work with.

I have a parent that wants me to help them relocate from SC to TX. They need to slightly renovate their home before moving but can not afford to do so. It is owned free and clear. I am not going to put money into a house that I do not own so they are willing to sign it over to me if I help acquire them a residence in TX near to me. How would a more experienced investor handle this to avoid heavy taxation. A 1031 is a must but are there other more creative options that I may not be aware of? I am also considering a refinance on the home to pay for the renovations. Is there a reason that I shouldnt do that?