All Forum Posts by: Account Closed

Hi Fellow BP members,

I currently own a couple single family homes but currently exploring condos.

I saw a property that I like and requested some info on it. The agent replied to me and said that there are no rental restrictions but they are planing on having a rental ration @ 57% HOA. Does this mean only 57% of the homes can be rentals? If so, what happens if it is at cap? What exactly does this mean? Thank you!!

Looking to meet whole sellers around Bay Area. 

Hello bigger pockets!

I am considering selling my home that I have owned for almost 4 years. I  lived in it for 2 years before it became a rental. 

I purchased the home for $106k and nearby comparable's have been selling for $275-300k. I want to sell it to my brother for $250k.

Will I still be exempt from capital gains tax 2/5 years if I sell it to my brother?

Thank You all. I will check with the CPA. Thanks again!

Hi @Aaron Montague .

She is doing a 1031 exchange with a property purchased in the 80s.The home is now paid off. She wants to sell all the properties further than 30 miles and move them closer to home as she is getting ready to retire.

Hi all!

I bought my first home in 2010 and lived in it for two years before I purchased my new home. It is currently a rental with a great tenant. I am considering selling this property soon so I can avoid capital gains tax.

I told my mom my plans and she wants to buy it as soon as her deal is done with her multi-unit complex.

My question is how can we do this without an agent? The house was bought in cash and my mom's name is under mines on the grant deed. What is the best way to go upon this situation?

I would be using the money to put down on a new home.

I originally contacted Wells Fargo to ask her how a line of credit would work. However, she suggested a cash out refi.

I plan on purchasing property to rent out or possibly purchasing a new home for myself and renting out my current home with a mortgage. However, I wouldn't mind flipping also if a great deal came along. Right now I just want to have the money ready.

I've been trying to think of some ways to come up with a lot of cash to purchase more property.

Is cash out refi smart on a paid off home?

Yes. I'm hoping they're done arguing before November so I don't get any IOU's.

Thanks for the response everyone. I did get my money on the 1st this month and plan on calling about this to the local HUD. Thanks again! Cheers