All Forum Posts by: Dylan B.

Hello,

My grandparents are selling a piece of property for about $800k. Apparently someone told them that they could save on taxes by splitting the property between multiple people and then selling it. I guess the logic being that the recipients each pay taxes to what ever bracket they are thrown into instead of my grandparents getting taxed for the whole property. Assuming they planned on splitting the funds between these people anyways as a gift, what would be the best and legal route to go? Gifting the money after sale or gifting the property pre-sale? 

I have been doing a lot of research on the BRRRR method and I cannot help but feel that it is too good to be true. What are the risks other than not getting someone to rent your property?

I am also confused on the timeline. Can anyone lay out an example of the process assuming a hard money loan and a refinance after 12 months? I am not familiar with hard money loans or refinancing at all. 

 Any areas to avoid? I have been living in the Clear Lake area for around 2 years so I am relatively new to the area. The only bad spots I am aware of in Pearland are the Brio-Superfund site and near the Blue-Ridge Landfill. Perhaps these are not bad for rental purposes though? 

Is this a good area to look?

 I have zero credit card debt. The only debt I currently have are my two vehicles, however I just began building a house and will have a mortgage by November. I am thinking of just doing about a 50% down payment and investing the rest in rental properties/flips. 

May be receiving a $200k-$500K (complicated to explain) what would be the best strategy for investment in real estate? Is it best to buy a few houses with cash or to by many houses with loans? Should I pay off my debt first before investing in real estate? 

Hello,

I am 26 years old, married, and just started building my first house. I have some regrets buying this house, I wish we would have invested our money in rental properties first but whats done is done. I want to start investing in rental properties, multi-family and single. Maybe even flipping single family homes.  My Goal within the next 5-10 years to establish $3k-$4k monthly income. Is this realistic? Me and my wife make decent money and live in Friendswood TX (near houston). Was buying a home for myself a mistake? 

Back in 2012 I had some lab work done, paid the co-pay and forgot about it. They apparently had the wrong address and were sending a $30 bill to it. 5 months later and they reported me to a collection agency who then calls me. I dispute the charge because I know I paid it months ago. I asked if it would hurt my credit score and they said no. They go off to talk to the lab who billed me who still claims that I owe the $30. I dispute it again and they said they will look into it more. 42 days after the initial filing they call back and still maintain that I owe the $30 so I just pay it so that they would leave me alone. Fast forward to today and I am trying to buy a house only to see that there is a negative collections on my credit report from this collections agency. I call them and they claim that there is nothing they can do. What are my options? Would a dispute potentially work? 

I was alerted to this by a potential lender for a house. The lender can see the collection and the amount it was for ($30) yet they choose to use the equifax report instead of transunion which does not have this collection on it and told me that it will hurt my rate. Is this lender not working in my best interest? The lender gave me all three of my credit scores and told me that they would use the bad one. Seems to me that anyone with a brain and good intentions would see that collection and ignore it. Only two of the lenders I have spoken with have brought up that issue.