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All Forum Posts by: Gerald Williams

Gerald Williams has started 1 posts and replied 2 times.

Post: Down payment gift

Gerald WilliamsPosted
  • Posts 2
  • Votes 0

Thank you Tim and Katie I appreciate both of you for great replies and excellent strategies. I did forget to mention that I have a holding company and an LLC. I thought about buying it Subto, but she bought in 2022 at the height of the real estate market so the monthly payment is too high for this areas rental market. That's why I wanted to use the equity and then only owe the $153k to lower the payment and refinance later. By having the holding company I was hoping to avoid capital gain tax. If that makes sense.

Post: Down payment gift

Gerald WilliamsPosted
  • Posts 2
  • Votes 0

I'm trying to purchase a property from my daughter creatively for what she owes on the mortgage. Which is 184k.  Zillow estimated it 215k.  I want to use her equity as a gift for the down payment to avoid capital gain taxes. How is this process done?