All Forum Posts by: Eva Fox

I am coming over here for very needed   help with very difficult 

problem .

I am in my senior years .

My question is about gain taxes strategy in my  complex 

situation .

The property , condominium in prominent Hollywood CA area

was bought by mi and my ex now husband in 1996 for 90k .

I was putting a lot of money in paying it , downpayment , 

improvements , because was spoken is mine , because we already

were contemplating possibility of divorce .

In 2000 we finalize our divorce .

The same year I got married for the second time .

Unfortunately promises arround uncontested divorced with my first ex  were not kept,

and I was forced to do quiet title case , when it was decided  10% of property belonged to my first ex,

and 90% to mi .

It was complicated history of deeds ,

which I do not will describe over here .

The case of quiet title had place in 2006 . Condominium was apprised at about 300k .

For all these years till today I am the one who pays association fees , taxes , improvements .

In midtime , due to bad life turns I wrote the deed to my second husband .

About year 2010 , we started to rent the place , rent barely covers  expenses .

Few years later I got the second divorce  .

My second ex husband deed the condo back to me . 

I did not register the deed , condo remained rented ,

and my second ex was declaring taxes on it .

Finally 3 years ago I registered the deed and condo belongs 

100% to me because I also paid to my first ex his % , 33k .

I am declaring to taxes the rent for 3 years now .

At the present time condo is estimated at over 600k .

I would love to sell it . ( however I can not to do it really

soon, becase I am locked in the country on the end of the word by

pandemic , but hopefully , vaccine will be here and borders will open)

How hard are going gain taxes hit me ,how at all they will be calculated ?

With my second ex , we eventually think about mowing back

for 2 years , get married again , to get

500k extemption .

For numbers of reason it is going to be very bad financial

hit for us .

 I am living and traveling for many years out of USA .

 Besides , because we not together anymore , my second ex wants

100k for a favor , after condo sold .

I also do not have idea about depreciation taxes , depreciation which I never declared .

I also have futher questions , what to do with money after sale , but I leave it for anothe post .

I understand this post is long and probably not very clear , but I would 

appreciate any input , advice .

greetings eva

Thank you very much everybody for the respond ,
I received very good info and base to face my tenant with confidence .
regards e

Hello , please tell me what does the law, if any, say ,
or is it any "custom" about it .
I am renting condominium out in SoCa , and having a tenant for almost 2.5 years now .
I pay for all repairs without problem for him , but now he wants to have
place fresh painted , inside .
I can not see how bad it is , because I am abroad , however place was freshly
painted when he moved in .
I do not want to loose a tenant , but paying right now maybe thousands for painting seems to be unfair . Please tell me how this kind of situations are
handled .

thanks e

What to do ?

Condominium rented for 1 and 1/2 year .

tenant is the lawyer .

Disaster, rain ruined balcony, major repair is needed .
I hired the crew ,work will cost thousands of dollars and will take 2 weeks .

Tenant wants half of rent brake ,
because his living conditions are bad for 2 weeks .

Should I pay him ?

thanks
eva

Thanks Curt, however hire the agency is not an option for me now .
If another solutions are possible and practised, I would appreciate an input .
thanks
eva

Hi

Forgive me being naive, but I will rent my condo the first time and have a few questions .
I will live abroad .
What is the most effective and painless method to change
utilities to tenant name .
Do I need to shot accounts and have tenants to open
their own ? I am abroad, someone else is taking care
of the renting, place is not rented yet, can I close
electricity and gas account on the phone ?
Second question, because I am out of US and I am in the motion,
tenants can not send check to me, do I have to engage third party,
or can I have them to use pay pal for the payment .
Are any another option for the payment, which not require tenant
to go to the bank and deposit check, or make transfer from their bank ?

thank you for advise
eva

Hello;

I am living in Southern California and at the moment I am moving
from L.A. to Riverside county .

I am looking for an advice, what is the most time efficient method, to find
a piece of land for sale, on which would be allowed to place mobile home.

I am interested in Inland Empire area which is not very far from
Riverside city, however I am quite flexible.
My search on internet did not bring any results, and Realtors
, few I contacted, seems not to want to bother at all with
this kind of sales.

I am hoping, someone on this friendly forum can recommend to me
the Realtor, who deals with small lots for mobile homes.
I would like to buy the lot, where I can put free standing, nice, new mobile home,
I am not interested in mobile home parks.
Do I have a chance to find it in Southern California at all ?

thank you
eva

Hello All;

I am looking for the advice and I choose this forum, because my problems are close related to money management and investment.

To make very long story short, after the most dirty divorce I was left with nothing but condominium, and even this part is not sure yet, the quiet title is still in process. I am 56 years woman, and I did not work
for many years now, I am not having any marketable skills, etc,
all this means no income. Due to legal fight I have terrible credit and
70k debts.
All the above are bed news.
Now to a little bit better part. If quiet title will end up the way it should,
and I will sell the condominium, what I have to do, I will have about 400k
cash and will be debt free. Still no income and no place to live.
Holding money in the bank will generate about 1500, what is not much, especially in California, where I am.
Can someone give to me some idea what I suppose to do, does any really safe investment exist, which would generate more money ?
I am very wiling to educate myself, and I have a few months of time,
because I am still having some short term spousal support and place to live , which cost me only 300/month association fees.
Bankruptcy is not an option for me, due to equity in property.
I am paying minimum payments on my credit cards, but a year from now I will not have money for it any more, and this is why I think the sale is going to be the only solution, however it will be emotionally difficult. I had a small apartment abroad which I sold to lower my debts a little and to keep up with payments. Unfortunately I do not have anything of value left.
Any advice for older woman, how to make living out of 400k ?
I am thinking also about leaving the USA for some cheap country, however,
it is not what I want. I traveled a lot during my life, I saw these "cheap paradise" places and I really do not have desire to live
in any of them.
Can some good soul push me in to direction which might be right for me ?

thanks
e

Hi;

Please help me, if you can.
After lasting 8 months legal case, I was left without any income, present or future , and what I saved is condominium in California, 500,000-600,000 worth, clean and free,
but also this is my only home, where I am living for the last 15 years.

I was talking to 4 different loan agents about my option for the loan .
Local places, chosen random from Yellow Pages.

Knowing my data, all of them gave to me the same loan amount for which I can qualify ($400,000) and more and less similar , very low in my opinion, payments options, basing on 30 years loan.($2200-$2500 range)

However, when I checked with large banks, just filling up the application on line, with the same data , result of payment amount is even twice as much comparing with some of the estimates from places I called.

Please tell me; are these small companies crooks ? Where is the trick, and of what I suppose to be aware ?

I do not have any experience with the subject, what should I do ?
How can I arm myself against cheaters and are these large banks, I checked with BA and CITI, only sure option ?

I am in very bad situation, lawyers sold me short, after consuming close to $50,000 in fees, and I am afraid of any paid consultation like of fire .

Surely I would have many questions, what to do after getting the loan, but this is the subject for another post.
Big, big thanks in advance. I realy need help!

regards
eva