All Forum Posts by: Kyle Doney

Justice served.. 

Hi @Tara Hall. I haven't found anything yet. I found a good deal a few months ago, but it got snatched up before I even got an offer in. I've been more so looking for land or SFH over a condo. The HOA's in the mountains are pretty steep in most areas.

Sounds so much cheaper than out here in Colorado. I called around a bunch and the best quote I got was around $100 a window, which I ended up going with. 

@Jon Holdman  They paid for the house for me knowing that they would be selling it to me as soon as I could get a loan (about 2 years from purchase date) for the same amount they paid. They are taking a small percent interest by doing this for me and I am paying them around the same amount that I would be paying on a 30 yr mortgage twice a month. The amount that I paid in during those 2 years will then be credited to me when I buy. Their accountant is saying they can expect to pay around 13k in taxes. That just doesn't seem like it could be right to me considering they are not gaining anywhere near that in interest and they are selling for the same price. A good CPA reference would help. 

 @Adrian Tilley  Have you seen this before? Are you able to assist in this type of transaction or know of a better way to complete this transaction when the time comes? 

July 13' my parents gave me a loan for my primary house because I am self employed and had a hard time getting a loan. I should be able to get a loan after tax season and buy the property. Since they are helping me out they are taking a small percent interest and selling me the house for the same price it was purchased for in 2013. Their accountant is saying they will owe thousands in capital gains. If their only gain is the "rent" payment they receive which goes to their HELOC and they make a small percentage on it, why would they have high capital gains? Is there a way to transfer this property into my name without being taxed heavily? I will be paying these taxes for them, so I am trying to figure out the best possible way to go about this transaction.

Hows your search going in Colorado? Do you buy with good cash flow or more about long term appreciation and less about how much cash flow your getting? 

@Nick Paul  I'll stop by and try to talk to the neighbors first. Thanks for the advice.

@Nick Paul  He paid 158k and took a loan for 126k in 2006. Looks like there is equity. I think I found him on Facebook of all places, but it sort of feels like stalking to message someone on Facebook that may or may not be the owner. What do you think?

I was driving down the street and found an abandoned looking house, so I looked it up when I got home and found its in pre foreclosure. I've looked at the Assessors Records and found the owners name, purchase price, loan amount, and some liens, but cannot find his current address or phone number. How do I tracked this info down? 

I moved here after living in NC for 4 years and I cant see myself going back to the East Coast. Love it here!