All Forum Posts by: Julie J.

@Mike Grudzien

Thank you Mike for your input

@Chris Seveney

Thank you Christ for your input.

Hello all

I am trying to buy SFH, probably cost a lot more for what I qualify for. I have good income with substantial down-payment. The only problem is getting qualified for the loan because even with good income and down-payment, I think the homes in my area cost a lot more than what I qualify for.

Please, anyone has done creative financing or know anyone who specializes?

Thank you all

JJ

Hi all

I have an investment property I am thinking about selling and I know I can defer paying taxes through 1031exchange. However that comes with having to find another like kind investment home within 45days, paying higher rates and fees.

So, what about me moving back in the house and live there for 2 years and sell?

Will that exempt me from paying capital gain tax up to 500k(since I am married)?

Any input is appreciated.

@Brad Hammond

Hi Brad

Thank you for your feedback!

Yes lender said that PMI increases with each 5% less down. I am trying to figure out if PMI still a better option

Hi Brad

it is primary and lender said PMI increases with 5% less I put down. I will worry about the payment later. 1st thing is to find out if indeed pmi is better option.

Hi BP

It may be common sense but I am trying to figure out if 20% down payment on a home by taking out HELOC is better or 3-5% down and paying PMI is better?

Either way, I am paying interest, but with HELOC comes with $4k cost to get it. And house in my area appreciates min. 5% a year.

Someone please advice.

@Steve Morris

Thanks Steve for your input!

So all she needs is registration with MLS to view the home for herself?

I think the cost may be well-worth considering the commission she can save.

Her license is hanged in her home office. Is this making her principle?

Please advise.

Thank you

Hello

My friend has active real estate brokers license but is not registered with association yet.

Is it still possible to view homes without her own lockbox? Also is there anyone who is willing to just write up purchase contract for the split of commission? She will do all the legwork.

Thanks

Hello Let's say a new home I am trying to buy is A, rental property is B and the home I am pulling down payment from is C. I have significant amount of equity in B but instead of selling it to buy A, I am using the equity from C as a down payment. In normal situation, 1031 exchange would work perfectly here if I sell B first and buy A but my situation is the opposite; I will be buying A "first" with anticipation to sell B if tenants decide to move out, and it is a dilemma. Again, I need to buy A 1st and sell B later. And once B is sold, I will use the proceeds to pay off A. I am only doing this because I need to buy A quick and don't want to go through the hassle of selling B first. Does this make sense? If not, any creative ways to make this work without tax consequences later on? Or better ways to go about this? Any broker out there? Someone please answer. Thank you