All Forum Posts by: Mark Schumacher

Good advice! Thanks guys.

Hey, I’m listing a property for sale tomorrow in a hot market and it’s likely I will get multiple offers. Any advice on negotiation etc and getting top dollar? I’ve heard of  countering people with “highest and best offer” and waiving appraisal or paying part of sales fees. Any other ideas you’ve seen work? Or think I should keep in mind? Obviously your realtor is supposed to coach you through this  but sometimes I think getting an extra 10k on the sales price might mean a lot to me and my family but for a realtor it’s a only a few hundred bucks and maybe more of a headache. Thanks for your thoughts!!

The property is a condo would you still use a commercial loan? Or are you saying a commercial loan might be an option to get around the low income even though the rates might be higher? Thanks

I currently own an investment property worth about 400k and owe 214K. I've owned it for 11 years. I have good credit but my last several years of income have been spotty/low as I've left a w2 job and went out on my own. Might it be possible to do a cash out refi to 70% loan to value (say 280k) if I add a cosigner? Also, might there be any other options to extract money without selling with low/spotty income? Thanks for your insight!!

My parents (aged 81 and 89) have 3 rental properties that now have sizable equity of approximately 1.5 million. While the equity gain is nice these properties have low cash flow. They'd like to move these assets into cash flowing assets like syndications and apartments to increase cash flow to benefit their children (my sister, brother and myself). What would be the best way to structure this from a tax perspective so they could pass along the cash flow to their children while they are still alive?  Appreciate any feedback.

If I do a cash out refi on an investment property and use the funds to invest in a syndication (investing in apartments, mobile homes, storage etc ) is the interest portion of the cash out refinance tax deductible? Is it considered real property? Thanks for any feedback.

Thank you @Bill Exeter! I appreciate the feedback.

It's my understanding that performing a 1031 exchange soon after a cash out refi on the same property can be problematic. Any advice on what's a safe amount of time to wait before doing so?