All Forum Posts by: Doniel Winter

Thanks Dave. The loan on the relinquished property was a family mortgage. It was originally recorded as a first lien deed of trust. It's now dissolved and being paid as a new promissory note without collateral. We are just trying to make sure the original loan isn't being treated as a gift by the IRS.

I completed a 1031 exchange in October 2024. Does the private mortgage on the relinquished property I sold need to be recorded on the replacement property I bought, or can it be recorded on another property I own as a second mortgage?

I'd like to use an online legal source to set up a living trust containing one asset only: a single family home. There will be only one beneficiary as well: my son. Local attorneys are charging $2000+ to set this up. LegalZoom is $299 and RocketLawyer is free (already subscribed).

Based on the set-up questions LegalZoom seems more succinct/precise for a trust with a single asset. Rocket might need some editing after the fact.

Anyone have an opinion or success/failure with either, or any other online legal doc resource? Thanks!

Contact Jeff Dorsten

Wells Construction Group, Asheville

https://wellsconstructiongroup...

Ben Puckett, Puckett Construction
828-279-5961

Ben Puckett, Puckett Construction
828-279-5961

Hi Cassandra, have you considered adding and Accessory Dwelling Unit to your home? It's probably one of the best ROI out there for the money.

There are lots of resources on BP for raw land development. I would start with podcasts. Land entitlement and development is time and capital intensive. But you can start by understanding what's allowed to be developed by visiting your local planning and zoning department.

https://www.biggerpockets.com/...

@V.G Jason We have all three (STR/MTR/LTR) and MTR & LTR are different. The screening criteria for our MTR tenants (AirBnB + can you afford it?) is a fraction that of our LTR, and we rarely furnish our LTR properties. In the last 24 months our MTR netted us double the return compared to if it were a LTR, and occupancy has been close to 100% (travel nurses & remote workers). We didn't think that was sustainable going forward (and as Mitch mentioned, we also think the pool of MT renters is smallest of the 3, and perhaps shrinking) so we rented it long term starting next month.

Also a good example, from Highlands NC.

https://smokymountainnews.com/...