All Forum Posts by: Matthew Duke

@Anna Buffkin thank you!

Are there any agents or investors in the Inman, SC area?

Hello - My friend just bought a duplex to be a rental property where he had to put $60K down as a down payment. He said if I pay him $30K I can be in on the deal and we can split it 50/50. I have a few concerns and was wondering if I could get some help -

1. How can we set this up so that we both get the tax benefits of the real estate despite him being the only one on the loan and title?

2. Is there a way to transfer the house to an LLC at this point?

3. What are the biggest items we need to discuss before going into this partnership?

Hello everyone - We put in an offer on a duplex - it got accepted. We were very excited to move in - on the last day of our due diligence we performed a meth test and it came back positive. The seller is going to independently test the house to confirm the meth results. If their test comes back positive - which it will. We are trying to figure out what to do. We plan on asking them to have a professional to come in and clean the house so that the meth is gone. BUT - once your house has tested positive for meth - in any FUTURE sale you have to disclose that it was once tested for meth (you don't have to disclose to renters once it is clean - but you do have to disclose when selling the house in the future). Do you think we should ask for any further money off now that we will have to disclose in the future that it was once tested positively for meth? My rationale would be that the meth results will create a stigma and turn away future buyers even though the house is cleaned and fully absent of meth. 

The house price is currently around $350K. So we are thinking of asking for maybe $5-10K more off. But the Seller could easily come back and argue that the house would be cleaned and therefore that is fair and they shouldn't have to take any more off the house. Thoughts? Opinions? All are appreciated! 

Hello all! The offer on my first home has been accepted! We close on December 20th and I am looking forward to my first house. We are looking to add a basement kitchen and I am trying to connect with and seek any advice from anyone who has added a basement kitchen on their own. We have gotten a few estimates and they seem to be a bit higher than we would like to spend on a kitchen. If anyone has experience in this area and would like to connect or offer advice please let me know!

Best,

Matt