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13 March 2024 | 7 replies
She wants to give me her house and move into a senior citizen home@Dana N Johns: Just a couple of thoughtsTalk to a real estate knowledgeable, CPA, not to your standard CPA and not to unknown investors on some forum in the ether for a matter like this.Now, if your mother has lived in the property for two of the last five years, she is entitled to a tax break on capital gains if she sells or if the title changes hands (basically sells using creative finance).However, if you inherit the property, there is a tax advantage to you in terms of stepped up basis and capital gains and a tax advantage to her from incurring capital gains if she is outside of the “two of the last five years” window.As far as the Medicaid situation, that is best explained by a CPA or tax attorney or Enrolled agent.
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14 March 2024 | 4 replies
On the management side easily I get exponential quality and have been able to move my management into a proactive phase rather than reactive (I ran around like a chicken with my head cut off my first two years in real estate!)
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14 March 2024 | 8 replies
We bought a two-unit in the union street historic district (city) and are just finishing up the final touches on the bottom unit, will be ST renting that one while I begin renovations on the upper unit that will be MT rental.
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13 March 2024 | 11 replies
My two cents for what it's worth.
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15 March 2024 | 117 replies
The property has two homes located on it.
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14 March 2024 | 0 replies
And at the end of the day, buying now with the plan to refinance and tap into natural and or forced equity in a few years is almost always a solid move.Those are my two cents on the market if you're on the fence.
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14 March 2024 | 4 replies
The property has two leases to business and the upstairs is a short-term rental on AirBnb.I have $250K in equity and owe $100K.
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14 March 2024 | 9 replies
It may not be for everyone or work well in every submarket.Interesting, we get much more with govt programs vs cash in our market. 975 for a two br vs maybe 750 cash.
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14 March 2024 | 18 replies
While DSCR loans tend to have interest rates a bit higher (generally 0.75% to 1%) than the other two options, which can challenge cash flow, this comes with some advantages that are uniquely suited to the BRRRR method.
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15 March 2024 | 17 replies
:D Get to your local RE forums, you will learn more in two days then 6 months reading books.