All Forum Posts by: Steve Driscoll

Has anyone done this? Would like to know what your experience has taught you.

In this case, the property would be used for a meeting place and periodic overnight sleeping for some special needs young adults.

A Few things we have considered that may apply:

Does the property need to be classified at business personal property with the appraisal district?

Input from neighbors? Can they cause us any unexpected trouble?

Any changes to the lease, like using a commercial lease?

Thanks

I am interested in purchasing the home of an elderly couple who wants to sell.  They have owned the home for a long time and have seen 10x appreciation.  This is their personal home.  

In the event they owner finance, will they have to pay taxes on the interest portion of the note, the down payment or a balloon payment?

Thanks

Hey BP, I'm Steve Driscoll, located in the Dallas area.  I've been a member for a while, and decided its time to post...my wife and I are interested in SF rentals, or live-in rehabs that we would then turn into rentals.  I'm pretty handy, so work doesn't present to much of a challenge.

I bought a home in 2011, have enjoyed updating it and learning new skills and love the appreciation, so we're ready to add a few more properties to the portfolio.