All Forum Posts by: Carl Trube

@Eric Fernwood

Wow. Amazing Response! 

That said, I do a few follow up questions:

1. When building a team for out-of-state rental properties, how do you evaluate them to ensure  efficacy and trust? 

2. What team members are necessary at first when looking at out-of-state properties? I instinctively think of realtor and loaners. 

Thanks for your help!

@Chris Seveney

Generally, what would be the benefits of having it placed in a living trust over assuming the loan?

May you elucidate the following: "there are ways to make it so your cost basis is today's value versus a lower value such as if you buy it at a low cost."

Thanks!

Howdy y'all! 

My mom would like me to assume the loan of her house to ensure it remains in my name. She and my stepdad would continue to live in the house and pay for everything (e.g., utilities, mortgage, etc.). Essentially I would become the landlord and they will be tenents. House is currently valued at about 400K. It was purchased for 193K. The remaining FHA loan is 120K. All of us have stable jobs and no other outstanding concerns. The family dynamic isn't a major concern.

Does it seem pragmatic? I'm vacillating because I don't want to miss out on any legal, tax, and other considerations (i.e., Does their equity transfer to me?). 

Maybe y'all can provide your insights.

Hello y'all!

Similar boat here. Would like to build connections and learn more from real estate investors. If anyone is in the Houston Area or close to Pearland, I would love to hear more information on upcoming meetups for 2023.