im newbie and learning so much. everyone here is great with the sharing of knowledge. i hope to contribute some in the near future.i am 21 and purchased my first property at 19. i quit claimed the property to my mom and partner [the person i bought it from got it from the sheriff's sale]. the property was a great deal in 2004, $30K and properties on the block are now selling above $95K.

im newbie and learning so much. everyone here is great with the sharing of knowledge. i hope to contribute some in the near future.i am 21 and purchased my first property at 19[strawman]. i orchestrated the deal and quit claimed the property to my mom and partner [the person i bought it from got it from the sheriff's sale]. i got the property for $29,500 in 2004 and properties on the block are now selling above $98K.

HiCould someone help me the following - As a passive investor, how does one claim the depreciation/losses from the investment property?

After you are aware of your laws is the time to find the best sites to help you.I can give you a few website names but they would be exclusive to Texas and Texas laws.The TV infomercials and various ad's that claim to have foreclosure lists, often times don't.A "Pre-foreclosure" is still owned by the Homeowner...

They never had a short sale packet, they claim they sent a hardship letter and they don't even have a contact at the lender.

You could take them to small claims court.

I think you would probably end up needing to take it to small claims court.

Luckily, I'm very skeptical and analytic and not likely to bite on some of these absurd claims.2.

WE LIVE IN CALIFORNIAOUR FIRST IS A INTREST ONLY FIRST 5 YRS (WE ARE IN THE 3RD YR)GMAC IS OUR FIRST MORTGAGE AND WE OWE 480kOUR EQUITY LINE IS WELLS FARGO 72kHOUSE IS WORTH AT LEAST 600K OR MOREHUSBAND IS COLLECTING DISABILITY AND IS GETTING READY TO SETTLE OUT HIS CLAIM IN 4-6 MONTHSI BOUGHT A BUSINESS LAST YEAR BEFORE ALL OF THIS AND I AM ONLY ABLE TO USE THE MONEY FOR THE BUSINESS NOTHING MORE.

If a state attorneys general wants to claim that the paperwork is an attempt to hide what is really a brokerage relationship they might succeed in court.