John Korinke
Is this a good deal for funding first rental?
Hello everyone, I'm looking to get my first single family rental property soon and was hoping to get some advice.
I was planning on borrowing a 20% down payment along with rehab costs from my mom and giving her a 12%...
Manuel Diaz
Gifting a property to family
What would be the costs associated with gifting a fully paid off house to your children? I know that you would have to file a gift tax for anything over $14k in a year, and if they were to sell the home they would pay...
Jacob Allen
Gifting Real Estate
If a parents home is paid off and they want to give it to a child is simply gifting the real estate the best way to go?
Sandro Hagenbuch
Foreign Gift Tax in New York?
Hi all,My wife and I are looking into buying our first home and have the following question for New York City (where we currently reside) / Jersey City, NJ (where the property is located) :- I understand that it depen...
Logan Jamieson
Annual gift exclusion
Hey all,Question here, obviously i will follow up with a tax attorney but wanted some preliminary info.Due to current mortgage rates I am exploring ways of getting creative. I have the opportunity of a parent who has...
Benjamin Nitz
Help with Proof of Funds - Private Investor (Parents)
My wife and I are looking for our first BRRRR deal right now and we are planning to partner with my parents as our "private investors." We are looking to submit an all cash offer tomorrow, but we are unsure how to nav...
Chris H
Seller gift down payment, any HM lenders?
I am looking into a cash flowing triplex in a revitalization area of the city where the city is scraping swaths if land for more Development.The seller will gift the down payment and I'm trying to find a lender that w...
Jeremy Slater
Closed on 1st buy & hold using gift of equity as down payment
Hello everyone, I posted this on the wrong forum this morning but hopefully this one is the correct one.I wanted to share the details of my first buy & hold investment property, located in Collinsville, Illinois, ...
William Lemmond
Using OPM but CASH!?!?
I'm looking to purchase some deals with others cash. They want to essentially be my bank. One; How do we go about transferring the cash without heavy taxation i.e. red flags. I will be buying through a n LLC/business ...
Eduardo G.
gifted/borrowed downpayment? homepath
Hey everyone,
I would like to know if you can use gifted/borrowed funds as part of a downpayment for a homepath investor loan?
Thanks,
Great site by the way, I wish I had discovered it long ago, look forward to rea...