"A 1997 law substituted an exclusion of up to $250,000 ($500,000 for a married couple filing jointly) for the old “replacement residence” rules.

Johnny Fullerton - if the first guy is fine and wants to take the risk for his friend, make it clear they're both jointly and severally liable for the rent as long as tenant 2 is at the house.

Brian and I talked about purchasing the property outright (even though, but almost because, it was a family deal), joint-venture purchases, lease purchases, and many other techniques for acquisitions.

(I don't know anything about this property - I just made up an address but as luck would have it, it did come back to an out of state owner lol.I just moved to Palm Beach county from the Tampa Bay area after being in that market since 93, and plan to use what I learned in that ultra competitive market to tear it up down here.Property Detail Location Address 3280 LAKE OSBORNE DR 211 Municipality LAKE WORTH Parcel Control Number 38-43-44-29-17-003-2110 Subdivision MURRY HILLS APT BLDG CONDS 1 TO 23 IN SECTION 29-44-43 Official Records Book 27909 Page 1444 Sale Date OCT-2015 Legal Description MURRY HILLS APT BLDG NO 3 CONDOMINIUM APT 211 Owner Information Owners GOLDSWORTHY KATHLEEN M & TIMOTHY H JOINT GOLDSWORTHY KATHLEEN M TR & GOLDSWORTHY TIMOTHY H Mailing address 5529 LAKE MENDOTA DR MADISON WI 53705 1248

Access to liquidity much down the road is a perk.4) If my wife were to die, I'd need the death benefit to cover the negative tax implications of being taxed in a higher bracket as a single-filer, losing half of the new standard deduction, and surrendering all of the real estate investing tax benefits we’ve been utilizing jointly as my wife is classified as a Real Estate Professional.

This would need to be a rigid joint venture with each party contributing equity and receiving proportional return.  

No escrow is required - - Just open a JOINT account which requires TWO Signatures.Set a progress payment schedule (30/30/30) + 10% down and mail the signed payment directly to the GC.

You need to screen the incoming tenants and make them jointly and severally liable as a party to the rental agreement.The security deposit stays with the property until the unit is returned to you at end of tenancy.

I was wondering if anyone be interested in maybe doing a joint venture or two.

It is the spring and I thought I would give a primer on "creative financing" for the BP community.I will break it up into Beginner and Advanced.I will talk about well known and not so well known strategies.Beginner strategies includes bank financing, hard money and private lender financing, as well as installment sales, land contracts, lease options to buy-control, sub2, land trusts, option to purchase flipping, sale and purchase contract flipping, wrap around mortgage-AITD purchases, self-directed IRAs, Joint Venture Partnerships w LLCs, and others.Advanced strategies include JVs with Sellers, pooling private funds, syndications and more.Lastly some legal issues regarding Dodd Frank, CFPB regulation, illegal flipping, and other issues.I will visit this post page every day for as long as it takes to go over these creative financing strategy issues.` Brian