All Forum Posts by: Ray M.

@Christopher Smith I'm not looking to do anything illegal...which is why I'm asking the questions. Thanks for giving me some things to look up.

Is it possible to overpay for Grandma's house and have her gift the difference back to me?

For example: Say the house is worth 100k, I pay 150k cash for the house with a plan to fix it up and flip it in a few years. Grandma gifts me back the 50k (diff. of what it was worth and what I paid).

Let's say, 3yrs later I spend 20k to fix up the house and sell it for 140k. Would I be able to claim a 10k loss on my taxes because the original purchase price was 150k?

Could this be considered illegal or fraud in any way??

@Susan Maneck do you manage your Jackson rentals yourself? How many do you have?

@Shiloh Lundahl how are you finding your properties in Pinal county? What marketing methods are you using?

@Shiloh Lundahl I'm curious how you came across the 88k house you recently bought.

@Sean Yang I am a realtor that lives in Casa Grande. I'm looking for investors to work with.

Hey @Nate Gilbert , welcome to BP. I live here in Casa Grande and am also a realtor here. Let me know if there's anything I can help you with.

Welcome @Randy K. I also would like to know what type of investing your student does. I'd like to help locate some off market deals for them here in Casa Grande.

@Kevin Fox did you ever find a solution to this problem?  I'm thinking about doing some cold call prospecting using property addresses as well. 

Ray

@Casey Miles I'm curious who you decided to hang your license with. I'm currently looking myself.

I came across Show Appeal Realty out in the Chandler area from another member on BP. The owner is a fix/flipper from what I hear.