All Forum Posts by: Josh Stroup

I have a similar question:

I buy a house at $135,000 and invest another $120,000 into it. I then sell the property for $400,000.  I finance both the purchase price and the rehab costs with a hard money lender.  When doing the exchange, do I have to cover the debt of the purchase only ($135,000), or everything ($255,000)?

Thank you, gentlemen. Greatly appreciated.

Hi Neal,

Makes perfect sense. Thank you for clarifying.

Josh

Hi Everyone,

Does anyone know any investor-friendly title companies in Central PA?  Any help would be appreciated. Thanks!

Josh

Hi Everyone,

In Pennsylvania, can you have an agent list for you a property on the MLS if you hold only equitable interest in said property (i.e. having the property under contract as a wholesaler)? I asked a few local real estate agents, but got no clear answer. Thanks.

Josh

Hi Everyone,

I had an interesting question posed to me recently from a fellow investor. In Pennsylvania, can you have an agent list a property on the MLS for you if you hold only equitable interest in said property (i.e. while you have the property under contract)? I asked a couple of local agents, but got no clear answer. Any help on the topic would be appreciated. Thanks!

Josh

Thank you, Steven.

Following up on this, is it possible that the mortgage holder (the seller) would try to claim taxes as well? Would the bank not send him the form to use when filing his/her taxes? If I'm right about that, I'd be interested to know how I should best handle that situation.

If someone can provide feedback, I'd appreciate it. Thanks so much.

Hi Everybody,

I've looked into this online, and found a wide range of opinion, so I thought I would throw this out to the community...

When taking over an existing mortgage, can you deduct the mortgage interest on your taxes? To better frame the question - I was thinking of structuring a deal by using a land trust. However, without notifying the bank, the mortgage would still be in the seller's name. Could I pull this off?

Thanks in advance for your help.

Hi Irene,

Welcome to both BP. Stay in touch and good luck.

Thanks, Brandon. Only active for a few days, and already heard from so many helpful people. Great to be a part of the community.