All Forum Posts by: Clint L.

Both I and son have FT jobs W2. I bought land, built 2 duplexes son was general contractor took no pay, all leased. I don't want to pay tax on rental income, should I gift property to him and let him borrow 80% to pay me back? Got 320K in. Could use lifetime exclusion.  

@Sean Walton We have plans to do at least 2 at the same time. The land is paid for 5 of them. Just got to pull the plug on paying cash for both or borrow the equity out of the 1st one when completed.

@Mike Reynolds Thanks for the welcome, like the site. I want to stay busy, like the idea of 10 or 15. Need to figure a way for son to own these down the road, been told I could borrow  70/80% on the 1st one after built and let my son pay the note. Then move on to the next one. Possible?   

Close to retiring. Me and son, who has fulltime job, have flipped 3 or 4 houses, built two spec homes and sold them. All done with cash, I get interest plus investment back, he takes profit.   

Bought land for 5 duplex's. Like to build 2 duplexes to start off. Should I finance these two or pay cash? Son has all the contacts for contractors and runs the jobs after work and summer when he is off for 3 months.