Mark G.
Transfer Home Tax Basis from Parent to Child - California Prop 58
Does anyone have experience with parent to child real estate transfers in CA? I understand there is a mechanism that allows a child to buy a home from their parents and retain the original real estate tax basis under ...
Daniel Dunnigan
LLC Tax Savings for Land with Windmill Income
Hi everyone! Looking for advice on how to save on taxes. Thanks for your help!!
Situation: Purchased a piece of land in NY this year with 3 people (Dad, Uncle, and I). We paid for the property by taking a HELOC on ...
Brandon Hayes
Unable to use a “gift” for down payment???
Long story short. Found a great deal. Found a private lender to provide the 20% down to purchase the property. In the process of getting qualified for a conventional loan, was told I was unable to use a “gift” of ...
Jeffery P.
Newbie needs advice (Is there a better way). Time sensitive!
Hello BP, I will try to be short and concise. I currently reside in a townhome with approximately 200k equity! 1st Lien Heloc of 300KGoals: To acquire as much rental cash flow/assets as possible in the next 5 years p...
Chandan Lodha
What are your biggest personal finance pain points?
What are your biggest pain points with personal finance? What problems do you have that you wish someone would solve?Some of mine are:- Splitting recurring expenses with roommates (e.g. rent, utilities, internet, etc....
Thomas Baylor
Gift of equity first buy
I am thinking about purchasing my first property from my grandmother who is willing to do a gift of equity. It does need a good bit of renovation as it was built in 1966. Roughly 30-40k. She owes 117k on the mortgage ...
Alberto Murillo
Questions on Gift Tax & Form 706
Greetings, My father wants to sell a property to me for way below market value. Market value: $400k, and purchase price: $175k in Alameda County California. He is gifting me $225k. I am financing $175kWill he have to ...
Tyler Hasenauer
203 K loan "gifted" down payment and closing
Hey everyone! I'm a first time home buyer and I am looking at a 2 unit house that I would like to house hack. However it is a foreclosure and needs rehabbed so I'm attempting to take the FHA 203 K route. However I don...
Larissa Pacifico
What should I do? Keep or sell?
Property price + rehab = 420k cost I’m paying 2.200/monthly for hard money. So I’m not getting any offers better than 425k paying comission I would loose money. So I’m thinking about keeping it to rent. Please let me ...
Will Dougherty
Buying a house from parents
Hi All,
Working on my first deal and will actually be purchasing a house from my parents as they look to free up some cash and are ready to move on from it. We have been researching the best strategy to go about tra...