All Forum Posts by: Luke Babich

Rates are low! Mortgage holders are taking advantage and refinancing their rates. Buyers are also capitalizing on low rates for their own purchases.  What potential problems can this cause in the future? 

Many LO's believe rates will remain low for the next 2 years to stimulate the economy. How will this impact the coming years ?

Thank you for your response! 

I like the approach of buying their retirement property. That is very insightful ! The primary reason for them to sell would be to use those proceeds to purchase a lake home/cottage for retirement. The building is a 2 flat and the current tenants are myself and my brother. We currently "manage" the building and are paying the rent/utilities, etc.

Hi all BP members, 

My parents currently own an investment property that is fully paid off. They are currently planning for retirement and they would like to sell this property in the coming years. It is not their not primary residence. Since I plan to purchase the property from them and am a licensed realtor, What ways/ strategies are there to avoid the capital gains tax since I would be purchasing as my primary residence?  The property is located in Chicago, IL . 

Thank you all for you advice/input!

Luke