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2 May 2024 | 11 replies
For example, my local credit union has a first time home buyer program that will contribute up to $8k in down payment assistance as a grant.
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29 April 2024 | 4 replies
Hello Biggerpockets Community, I'm currently considering a unique opportunity to go 50/50 on a property with a friend, and I'd love to hear your thoughts and experiences on this matter.Background:My friend and I are contemplating joint ownership of a property where they will live and cover the mortgage, while her and I contribute 10% down payment.
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29 April 2024 | 5 replies
It's a strict 2-year requirement.As for strategies to avoid capital gains on the sale, if your client doesn't meet the ownership and use requirements for the Section 121 exclusion, they might explore other options such as:1031 Exchange: If the property is an investment property rather than a primary residence, your client could consider a 1031 exchange to defer capital gains tax by reinvesting the proceeds into another investment property.Installment Sale: If your client is willing to accept payments over time, they could consider structuring the sale as an installment sale, spreading the recognition of the gain over multiple tax years.Charitable Remainder Trust: If your client is charitably inclined, they could contribute the property to a charitable remainder trust, receive income from the trust for a certain period, and then have the remaining trust assets pass to charity upon their death, potentially reducing or eliminating capital gains tax.These are just a few options, and your client's specific financial situation and goals would need to be considered in determining the best approach.
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30 April 2024 | 27 replies
Please elaborate on why each is essential and how they contribute to a company's overall performance and reliability.Similarly, provide a list of red flags or negative traits that indicate a subpar or potentially problematic property management company, with explanations on how these might negatively impact my real estate operations.Create a scoring or rating system that I can use to objectively evaluate and compare each property management company based on the traits and skills identified earlier.
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1 May 2024 | 22 replies
Alecia,This is really helpful and I'm grateful for your contributions to the BiggerPockets forums.
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30 April 2024 | 14 replies
I think the national leadership situation also contributes.
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29 April 2024 | 10 replies
I was thinking about the fund, because I personally plan only run the funds and do all the planning, admining and pumping the value of the properties as a main partner, and other investor will only contribute the funds for the downpayment as a limited partners.
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29 April 2024 | 8 replies
A property with several units requires an effective communication and organizing team.Down Payment: There are a number of benefits to contributing 20–25% rather than just 3.5%.
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30 April 2024 | 37 replies
If the accounts are shared, either one of you or both can contribute to the down payment.
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27 April 2024 | 0 replies
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