All Forum Posts by: Darron Stewart

Just my opinion, have her buy in her name and enjoy it as your own, when estate settled it will pass at stepped up rate to current value, so little to no tax implications. Or have heard she can transfer now as part of future estate but any gains will be taxed from that day forward, not being a lawyer and knowing your states laws, contact one, usually they will give you a free consultation to discuss and give you prices based on different situations and taxes based on each.

@Lynn McGeein

With banks, depends on their balancesheets as to how much they want to give you a loan, found if you have a relationship and their offer is lower, get quote elsewhere and ask them to match. I did that in DC area and ended up with same rate but they allowed a little too much for closing so they handed me a $600 check at closing - lol

@Nat C. Just a thought, get a plan in writing of all costs including repairs and anticipated repaired value to include anticipated taxes you will be paying them and rental income you think it will produce...basically sell it to them that it is in their best interest to not tear down and let you have time to make it produce money for them!!!

@Mike Russo The location sounds fine, as stated above it can be a positive and a negative based on the noise level and time of day. Some train tracks are not used at night and only active during the day, so visit at multiple times and you be the judge. I own a rental that backs to the interstate, needless to say it can be noisy but no problem renting and current tenant just passed the two year mark. Best of luck in your decision!

@Brent M.

Never used them, went on the web to sec of state office, searched for the name I wanted, found it open, went to irs and received a federal id, went back to state site, registered company name, then drove to county and registered, total time about an hour and cost $70.

@russell ponce, wise...

I find foreclosures and estates that pull in double the mortgage or more in rent, if you can't find, be patient. I waited and offered for 9 months on a house until they gave it to me for my price...

Ok, the numbers don't really work, but the dad wants to see you out of debt quick and really the only forclosed and bankrupt properties are from debt...hmmm, maybe a wise point to contemplate.

I like shorter payoffs, but you must do what you are confortable with, to play a lttle game, sounds like you are looking for a 1% property and your father-in-law wants to see you in a 2% PROPERTY FOR HIS LITTLE GIRL...hmmm

@wayne brooks, I have a percentage that works at the 90-120 day mark after foreclosure. The majority of short sales end up in foreclosure as I have seen. I have a property that I have followed for three plus years, through short sale and into forclosure, waiting for the magical day to get it for my price...