Are there gift options for buying the Long-Distance Real Estate Investing Book by @David Greene here on Bigger Pockets?

Hello,My parents are looking to gift their Montreal duplex to my sister and I.

@Josh NaborsHi Josh,I am working on a scenario just like yours.There are many ways to tackle the above.My client with a similar scenario also wants to receive property from her dad with out any money from their pocket.So what we will end up doing is we'll take title to the property subject to the current note.Then after 1 day from taking title we will apply for a rate term refinance (fannie mae only requires 1 + day on title for rate/term refi).As long as our LTV is 75% or lower we can do this refinance (along with acceptable income & reserves & credit score) since this is an investment property refinance.The difference from the value that the property was gifted at and the cost basis that was left in the property is considered the "gift," so there are certain tax ramifications that you might want to talk to your accountant about with your dad.I've checked with my underwriter and we're about to review this file soon.The above is really just a creative strategy of Sub2 and a conventional strategy of a regular Rate/term refinance so nothing really complex.Good luck on yours.

Hi Patricia, If I offered to help someone I would refuse money but I would probably accept a working lunch and I'd certainly appreciate a gift certificate (restaurant) or nice thank-you note in the mail.

The greatest gift there is, is giving.

Good advice is worth paying for and you don't want to screw this up otherwise there could be taxable gifts going back and forth, or you could be giving ownership of an asset where you do not intend to give ownership. 

(You could be locked out......timing is very important).Some of the items in the file folder include;A skinny contract of sale...... this is a one page written in easy to understand language with only one out clause.A Hybrid contract of sale... a way to close more transactions by joint ventureA commercial contract of sale, 3 pages with special buyer requirements related to environmental conditions, existing suppliers, surveys, buried oil tanks and other conditions that must be known to make a profitable and safe transactionAn option agreementAn informational pocket pack with 52 options to financing and control a building without conventional financingBlank checks, pens, carbon paper, A list of referencesDisclosures for lead paint and other state or federal requirementsCell phone with camera to take pictures of the nice things and negative aspects of the property and to take a picture of the contract to email confirmation to seller and to your title company or lenderA gift, something for the seller to remember you by, I give Indian Head Nickels away, pens, note pads.Blank addendum forms  - these are used to attach to your purchase agreements (you don't want a lot of chicken scratching on your contracts; use them to write some of the following;1.

A sale from a father to a son may utilize a gift letter without concern as to funds transferring property in lieu of funds.If a buyer/borrower has an equitable interest in the property with the seller, different rules can apply.

Your christmas gift to yourself is the gift that keeps on giving to us. 

David clearly (from the podcast, and typically for a cop) has the gift of gab.