All Forum Posts by: Pawel Bronski

I’m working out off market deal with seller that is worry about capital tax gain (NY). However his odd situation might plays on his favor.. some background: 
He owns the place since 1990 (bought for $14k). Lived at the place for many years. Renting it out for more than 10 year and probably for more than 3 years have been renting out without a lease (month to month cash). Claiming that his wife (co-owner) lives there all utilities under her name. 
Is there a chance he can claim the tax gain exemption? 
How do you apply for that? Any special form or something? 
(The deal we are working out in range of +\-$40k. )

Thanks for input

Vlad 

Might be a little late but just saw your post. I have a duplex in Amsterdam (and another under contract). I’m familiar with the market. Let me know if you have any questions. 
 
thanks 

Thanks for quick answers. I’ll definitely shop other banks. 

Hey BP community. I’m new to this forum and newbie investor. Welcome all.

I got my first rehab duplex this year and all worked out well.

Right now, I’m looking to buy turn key duplex for approximately $100k and to acquire get investment/rental mortgage. I called few banks around and first bank that got back to me me offered 25% down with 3.875APR, which is OK comparing to my initial analysis. However, I’m getting additional cost/points at closing of approximately $4000 (total closing cost of $8500). Is this typical for investment mortgage? What’s my best option? Should I keep checking other banks or should I just go straight to a local mortgage broker? What’s the typical (+\-) closing cost on $100k investment property? I’m in New York State (not NYC).

Thank you!