As an auctioneer specializing in abandoned personal property auctions conducted under California laws, we have found everything.The best was a 7,000 square foot house that had over $1 million dollars worth of high end everything you can imagine.Gold, silver, coins & jewelryShelby Cobra GT along with a couple of dirt bikesLarge collection of Cuban Cigars valued at $25,0000 to $50,000Then there was a closet that rained Louis Vuitton Purses, the first one I picked up had a gift receipt from Nordstroms and had never been used.I must warn people in California to be careful, if the value is $700 or more then it MUST be sold at public auction by a licensed auctioneer.We provide appraisal & auction service here in California that acts as an insurance policy against pissed off evicted homeowners.

xmas cards wishing happy holidays and u might add your family is looking for a home in the neighborhood if u know anyone call if u buy they will get a gift card for applebees.

So, there is a thread out there about a newbie wanting to buy a Lambo and given that he just started, and had no money at the time, most people consensus is that buying a Lambo would not be a good idea at that time.So, I was wondering when is a good time to reward yourself with lavish gifts?

Wifey and I are great at stuffing gift bags.....

Hello BP Community,My Sister would like to gift me and my other siblings our parents home, with our plan being to get a heloc on it and rent it out while investing the money from the line of credit into rentals or flips.

I never looked a gift horse in the mouth, but as I think about it, this may be a requirement from the state insurance commission, disallowing charging premiums for the same risk, I don't know, but I can see the issue.

The problem is, I was just informed I won't be able to get a conv. loan on an investment property if I am using a gift/loan for the down payment.  

My 4 year old owns a 4 plex (gift in trust from her great grama) but she uses a PM as she isn't ready to handle it yet... she wanted to paint it purple and put a horse in the back yard.

Believe IRS regs will require the loan to be documented, at a fair market rate and have regular payments, so as not to be classified as a gift and subject to IRS gift regs. 

Even when I flipped my home from my personal residence into a rental, I think I paid $500, which covered touch up paint, light bulbs, professional cleaning, and a welcome gift for my new tenants.