Profit was not great but it was a good start to a new joint venture.

You're probably eligible to sell and pay no capital gains on up to $250k profit if you file single, $500l if married filing jointly.

How would that work if the property is being owned by two unmarried joint tenants with rights of survivorship, with only one person on the original loan?

i mean, as far as I know, the Millennials (I'm one too, '82) don't get together at a weekly meeting and jointly make decisions about what they're going to do, but you're totally right about the overall size and the interplay with the underbuilding. 

They would be on a joint lease together.

Much easier to when you start with people who understand the question.One way a friend does this (not USA based) is to set up joint ventures.

I am slowly coming to the realization that maybe Cali isn’t the best place to invest ( I love the joint).

My wife and I previously owned real estate in our joint names in both Florida (where we currently reside) and in Virginia (where we previously reside)Following ur research and some legal advice, we established two trusts (one in each of our names) and also two LLCs one for all the properties in Virginia and the other for all the properties in Florida.We have deeded all the properties in Florida into the Florida LLC, but we have not done so yet for the Virginia LLC.

IMO you would be way better off with a commercial loan than buying these sub-to with his inferior mortgage.

Hi Jay,I'm looking for my first multi family buy and hold property and I'm wondering if I should use a traditional loan for the financing and start slow or should I make a more powerful move and use 200,000 in home equity for joint ventures to build more capital and buying power?