All Forum Posts by: Scott Ruffrage

I'm 71 years old, so it's time to cash out and enjoy myself. Would the 10 % deposit be non-refundable?

I have a .6AC lot across from Wal-Mart for sale. There are two other land owners involved with a total of 4 AC's for sale.  I'm asking $200,000. for my lot. Publix and Wal-green have submitted offers in the past but back out. They were both using a third party developer for the purchase.  They have both returned to the table. My question is this. What is a standard amount to ask for earnest $, or a non-refundable deposit. In the past they got a 6 mo. due diligence, with a 3 - mo. extension clause. 

Thank you

Scott R.

I am selling an investment property.  I would like to pass the proceeds to my daughter in the form of buying her a house (she currently rents). The house will sell for $160,000 we will net about $100,000. I want to avoid Capitol Gains therefore I am thinking that I would buy a house for over 160,000 and rent it to her. If she stays in the house until we die how do we pass the house to her? If she moves and no longer wants the house how do we pass the current value to her?

Thanks,

Scott

Thanks Guys, that's what I needed to know!

Scott

Greetings,

I am selling a residential rental property and using the $ to purchase a ocean front rental condo. I have an LLC. Could the LLC buy the Condo now, and then when i sell the rental, purchase the condo from the LLC via a 1031 exchange?

Thanks,

Scott

Hello, I'm Scott from Alabama. I own 5 SFR, two are free and clear with equity of $ 200,000. the other 3 worth $360,000 with equity of $240,000. Total equity of $440,000.00. What are the options of getting the equity out of these properties (without selling) and purchasing a much larger property like a complex, using the equity as a down payment.

Thanks