All Forum Posts by: Shaun Hunt

Wow! First of all, thanks for all of the replies. 

Let me explain my situation a little more now that I know there are so many willing to help.

All of you have forgotten more than I know about real estate investing. I started about three years ago. I now have a duplex and a 3 bed 2 bath house that I am renting out. 

In March, of last year, I made an offer on a half acre lot that I didn't think the bank would accept. The offer was $15,000. The asking price was $20,000 on a foreclosed lot. They accepted my offer within 48 hours. The property appraised for 64,000 in 2008 when things were crazy.

I paid cash for the property's itch the idea that I would sell it in a year or two and use the money for a down payment on a new property.

Fast forward til now, I recently made an offer on a home that was listed for $117,000. My offer was $90,000. They just laughed and accepted another offer. Two weeks later, the other offer was dropped and they were considering my offer. I changed it to $98,000 and they accepted. I am in the final days of closing on this house. There are some drainage issues the underwriter wants cleared up before they give me the money.

Tomorrow, Oct. 20th, I hope to find out if seller is willing to fix drainage problems so loan will fund. 

Everything happened quite quickly. Now I am behind on selling the vacant half acre in order to use money toward purchase of the 98K home.

As I mentioned, I am a novice investor. What would you all recommend I do? Keep the half ace for the next purchase? 1031 reverse?  Or what?

I am willing and ready to hear all responses. I am glad I found out about this site!

I have an half acre I want to sell to pay down a loan for another home that I have an accepted offer on. Am I too late?

buying her house would be considered a property investment.

Grandma just fell, again. She is as tough as wood pecker lips, but I think after 88 years, it is time she had some help looking after her. She is living with my mom as of right now. Obviously, we want to keep the house. What are some legal ways we could keep the house and still qualify for home health care or even a nursing home? I do have an LLC and own three rental properties. Could my company buy the house from her, at a reasonable price, bhave her live off of that until it runs out and still qualify for medicare? Thanks in advance!