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18 April 2024 | 4 replies
I meant not to live on but solely to withdraw, pay the tax and invest in RE.I am trying to decide if I should draw out everything from tax deferred retirement account, pay the tax and invest in RE (move into Roth as another option)before I hit RMD point.Hoping to hear from those who have walked the walk and share actual experience of their success/roadblocks.
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18 April 2024 | 12 replies
I don't know anyone there personally doing it like we do, but it's something to consider.The other option, of course, is to just try and bump up your expected monthly cost from 10% to something like 12% - 15%.
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16 April 2024 | 1 reply
Hello! There is some land near where I live that came up for sale. I feel like I remember hearing one of the podcast or somewhere that the appraised value of timber on the land can be used as down payment for purchasi...
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18 April 2024 | 2 replies
Is there any other options I can use?
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16 April 2024 | 7 replies
here's the shortest version on my situation:1) bought a house for mom in 2005 - she lived there til 2011 (not nearly long enough) did not charge rent2) rented the house maybe 4 intermittent years between 2013 and 2018; filed taxes accordingly with 'income' and 'depreciation'3) lived in the house between 2018 and 2023 when I sold it: almost exactly 5 years to the day 4) cash (after closing) was @ $240kA friend suggested that I may need to repay depreciation?
18 April 2024 | 2 replies
Hey @Fadela Zaoui - if its a court ordered sale... unlikely sellers would entertain seller financing, but the answer's always no unless you ask :) I recommend working with your broker to figure out what the sellers really want - sounds like one of the sellers wants to cash out so they may not be the person that wants to do seller financing BUT the other seller may be open to it.You could also potentially look at a joint venture option where you just buy out the seller that wishes to sell her portion, and partner up with the other equity holder who now gets to retain their piece of the pie.
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18 April 2024 | 3 replies
*You can only have one FHA loan at a timeI'd consult with a lender or two to give you a much deeper scope of your loan options and what makes the most sense.I am not a lender.
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18 April 2024 | 14 replies
@Sarah Kensinger agree, I am just exploring different options and weighing the pro/cons.
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17 April 2024 | 12 replies
What prevents your end buyer from waiting out your option period and going direct to your seller?
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18 April 2024 | 6 replies
If you were wanting another property within the next 6 months after selling her condo this could be a good option.