All Forum Posts by: Daniel Patterson

That’s scary...thanks for the info. 

Thanks!

Yes they are a pain...

He was a real estate agent and they claim he owes way more tax than what he paid.  Federal tax was no problem they let him settled for pennies on the dollar. The state of ca is proving more difficult. I just don’t think the state can claim 50k if there isn’t that even that much equity. Even if there is how can they get part of my share of the equity?

Own an investment property 50/50.  My partner got a personal tax lien attached to him by the State of CA. Not due to anything owned on the house. He is willing to give me the property. What is the state entitled to collect?

I'm not expecting any law suits. I have had the same great renters for about almost 5 yrs.  just worries me if they move. The propert is in SoCal and I'm in Ky.  I have a fair amount of equity in both properties and will have my primary paid off soon. 

If I own an investment property that is not in my wife's name and do a quit claim deed on our home that we own together, making my wife the sole owner of our home, will that remove the chance of any legal action made by a renter etc...? In other words can someone sue me and be rewarded equity of our home if my name is not on the deed?

Looking for a realtor to send me few prospects in the Navarre Fl area. Going to head down and check it out next month. I'm not looking to waste your time. Interested in a small place can be turnkey of fixer upper good area, walking distance to downtown, shops or beach areas. If somebody has time. I will like to have some ideas before we visit. Thanks

If you don't like your current job. Check with Toyota or other factories. The wages are much higher also there is opportunity for overtime pay. Stick it out there a few years then You will be able to save some money. I saw somebody mentioned duplex. Good idea and FHA loan is possible. Maybe the other "live-ins" can get low income housing assistance to help pay their half. Work on getting your wife onboard with some helpful ideas. Maybe the Aunt as well.

Thanks! And yes I realize your not my lawyer.

Thank you for the informative reply. The more information I have the less time I waste pursuing and educating myself with matters that might not work out with my needs in the end. I know it's not "legal" advice but much appreciated just the same.