He was a good guy” and his information  on buying at tax or foreclosure sales was realistic and doable. 

Weigh the long-term benefits of the low mortgage rate you have versus selling and getting $500k from a sale exempt from capital gains tax.

Thats $7700 a year NOT including my accountant/Tax prep. 

If the purchase is done in cash, as you mentioned, they’d have more flexibility, but they’ll still want to carefully consider the tax and legal implications of the subsequent sales.I hope this helps, and good luck with your client’s deal!

You can use it as a downpayment on a property over $450k and use leverage tax free.

Hi Kin,Transferring your share of the property to your brother may have tax implications, including gift tax if the transfer is considered a gift.

The property was rented and generated $160 cash flow after mortgage, taxes, insurance and property management fees were paid.

Texas is definitely a strong market, but keep in mind that high property taxes can eat into your cash flow.

Don’t want to pay taxes on the capital gain.

During escrow converted it to a Roth and paid the taxes.