Charles Salumn
Trying this for the millionth time !
Long story as short as I can make it. Bought my first home last year and was forced to sell because of job relocation. Currently living with folks looking for a place to reside. IVE WANTED TO START INVESTING IN R...
John M.
Alternatives to HELOC for pulling cash out of primary?
So, I bought a new primary residence a year and a half ago with cash. I'd like to take out a LOC on it to use for fix & flips and/or buy & hold acquisitions. Problem is, I don't have any W2 income since I don'...
Chris L.
NJ tax question on sale of house co-owned with parent
When my father died I inherited 25% of my fathers portion of my parents property at step up (mom disclaimed this portion) and my other brother inherited 25% at step ups as well (mom disclaimed this portion as well). T...
Raymond Loughlin
New Jersey Bulk Sales Transfer Tax Need Advise
I am selling a One Bedroom Condo and the Buyers Attorney wants me to fill out a Bulk sales application, what I don't understand is why? Since this is not a commercial property or is it in any type of corporation. The ...
Kalei Wodehouse
Have primary residence & buy a 2nd using "primary" for best rate
Aloha, looking for some advice on what I should do...I currently own a home w/ a mortgage that is my primary residence, however I just bought a second home (rental property) but to get a better rate I also check the b...
Steven Hershey
Sibling help Legal or illegal?
My wife and I are currently looking for our first rental property! I was wondering if it is legal to have a sibling do a mortgage application with me and my wife as a "co-borrower" as a primary resident and use that ...
Grayson Camp
House hacking and van life, how to do both?
Hi everyone, We are approaching 1 year since we closed on our duplex. We purchased the duplex as our first brrr / house hack project. One year later and here we are ready to rent out both units, reap the benefits of o...
J M
Is my condo still a primary residence if I rent it out for 12 months
I was wondering if I would be eligible for the $8000 tax credit if I:
1) purchase a condo now
Year #1: Live in the condo for one-year
Year #2: Rent the condo to someone else for one-year, while I finish Ph.D. work i...
Brick Biermann
Using Cash Out Funds to Purchase Primary
Hello All,
I recently completed a refi/cash-out on my multi-unit (4 units) property which I also use as my primary residence [been living in one of the units for several yrs]. At one point during the process of the r...
Monica Seth
Sale of Rental Property & Capital Gains tax (2-out-of-5 yrs rule)
Thank you in advance forum members. I need clarification on whether the 2-out-of-5-Year Rule would apply in our situation to get full exclusion from capital gains tax.We live in CA and had purchased a condo in Jan 200...