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All Forum Posts by: Jesus Gonzalez

Jesus Gonzalez has started 1 posts and replied 2 times.

Buying & Selling Real Estate

Post: How to transfer title

Jesus GonzalezPosted
  • Rental Property Investor
  • Sacramento, CA
  • Posts 3
  • Votes 0
Maybe I’ll have him deed me half the property. It seems like a lot less of a headache.
0 Votes
Buying & Selling Real Estate

Post: How to transfer title

Jesus GonzalezPosted
  • Rental Property Investor
  • Sacramento, CA
  • Posts 3
  • Votes 0
My dad has owned a property for 10+ years, and he hasn’t done anything with it. So it needs to be torn down completely, and I want to buy it from him. He paid $35,000 for it, and it’s worth around $100k today. When I write the contract out, I was planning on saying I bought it from him for $35,000 so he can avoid capital gains. Because the purchase price is pretty far under market value, will that attract attention from the IRS, or should I be fine? Sorry if this post is confusing.
0 Votes