All Forum Posts by: Tyler Carpenter

I just want to keep the most now at closing. Is it possible to not pay any capital gains on my scenario?

I have my personal property that I bought a year ago for 75k, I put about 12k into it and have the chance to sell it for 120k. Can I do a 1031 tax exchange on my own residence? Im selling because im relocating to florida and want to buy a home down there soon. Im just not sure if you are allowed to do it on your primary residence. I want to take away as much money at closing as possible. Any help would be appreciated. Thanks

We have decided to go the route of a master lease. Does anyone have a copy of one that they would be willing to share, so I could read through it and look it over to get an idea of what is included in them considering I have never used a master lease to buy as a lease option. Any help would be appreciated, thank you

Thank you for the update.

In a lease, is it common to put down a down payment? Also if this is the case, will I have to reput another down payment in the future when I go to buy it? Or will the bank usually look at the equity and take into consideration the interest that I have?

I guess Im asking is it similar to buying on contract? I know there are differences, im just a little scared that I put down 25k for the lease and go to purchase from the bank and they require another 30% down on the purchase of the property and I wont have enough for this. This is where my knowledge gets hazy. Any suggestion?

Well talked with the seller and he talked with his bank, and since the property is wrapped up in a blanket loan with other properties attached into one big loan, the bank will not allow him, the seller, to sell on contract. They said that he could sell as a lease option. Anyone have any inputs on this? Im have little knowledge when it comes to lease options.

Does anyone have any creative ideas that I may be able to throw at the bank and the seller to see if we can get this transferred over to me or allow me to buy?

Any help would be appreciated. Thank you

Thanks for the update everyone. This is a very useful and informative thread

Thanks Bryan.

Steve, if the owner takes back 50% of the financing, would that mean you split the income with them 50% as well and pay them 50% of the payment too. Could you do a hypothetical explanation of it. I always seem to grasp ideas better when they are explained in this form. Thank you

Thank you for the insight Steve

Is it not common to put about 10% down for most multi units on contract? Bryan, you make it seem as if im spending too much?

Anyone else ever buy this way and put about the same down?