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16 September 2021 | 7 replies
But if they really don't want to charge you for it they can use the regular annual gifting limits to get that rent back to you.
13 September 2021 | 0 replies
Hi All - I was gifted a piece of land in Matteson, IL directly across the street from Franciscan Health Olympia Field.
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15 September 2021 | 4 replies
Hi Rob, the gift funds do not need to sit in your account for a certain period of time.
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17 September 2021 | 5 replies
I have sorta been through the idea of him just giving me 100k but My lender at the time said it wasn’t possible for him to gift me 100k.
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16 September 2021 | 4 replies
Gift funds: allowed.5.
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16 September 2021 | 0 replies
We plan to list in December, Here's a break down of the numbers of this dealPurchase price: 181k (got 4k credits on close due to repairs), 5.1% rate, $1,160 PITI, 10k Down OPM (Whole life insurance loan + gift of 5k from family)Mortgage owed: 165k ( Spent the last 15 months taking advantage of the CARES Forbearance) Renovations: 15k Listing price: 400k (hoping to get 425K)Comps: 350k-380kNew house:Purchase price: 80k cash (worth 240k)Comps: 240kThe plan is to put a Heloc on the new house but have it paid off to reduce our living expenses.
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17 September 2021 | 2 replies
Your family might need to say it is a gift instead of a loan but ask your lender the best way to structure that.
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8 October 2021 | 3 replies
Does anyone have experience with giving tenants small gifts as a way to smooth over aggravations from unexpected renovations while tenant occupying the property?
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17 September 2021 | 2 replies
If you want to leverage you need to be on the title, she can gift you some part of the property or you could put the property in an LLC finance as an investment, you each own part of it and you each share in profits.
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20 September 2021 | 2 replies
@Joseph HammelSome examples of estate planning I have done with my real estate clients include the use of family limited partnerships to freeze value of estate along with defective grantor trusts; LLCs with preferred interests (similar to debt instrument); sale of membership interests to defective grantor trusts; annual gifting of LLC interests using discounts for lack of marketability and/or lack of control, etc.