Eric Goodell
Inheriting a property
My Girlfriend is inheriting her grandpa's property out in Oregon soon. He wants to sign over the title to her. He purchased it for $63,000, and is 4 years short of paying it off. Now the Zestimate says it's around...
Rachel Stewart
Large down payment - why is this difficult?
I have an interesting issue - I hope this is the right place to post. I have access to private funding (parents) but we don't know how to structure it so I'm the only one on the loan/deed. It needs to be an non-owner ...
Staton Jobe
Should I renew my title insurance?
Hi - my wife and I just changed deed ownership of our first STR property to an LLC we created. When we switched over we lost the title insurance we initially purchased when we closed on the home. If we repurchase titl...
CJ B.
Broken Fridge Scenario
Just wanted to throw this one out there. I currently have a scenario where my tenant has called due to a broken fridge in rental. I am responsible for the appliance, but she's wanting a reimbursement on the lost food ...
Jessica Frasier
How do I finance this 4-unit?
Hello BP,
I am under contract for a 4-unit, turnkey property right outside of Philadelphia, PA.
I thought I did everything right. I was pre-approved before I shopped around and I was in regular contact with my lend...
Jeff Higgins
Buying a property from a family member
I have a question regarding a purchase of a rental property from a family member. My wife and I are going to purchase a single family home from a family member. They are selling it to us for what they owe on the house...
Jeanelle Ignacio
Strategies & Tax Implications for purchasing commercial property from parents
This is my first post for some insight on this great forum...and it's got a ton of moving pieces.My husband's parents own commercial property (free & clear/no mortgage) on a large lot that has a board and care (as...
Demetrius Morros
Getting money out of a C corp and avoiding double taxation
I am an investor who is in a higher tax bracket. I am working with a tax attorney who is advising me to form a C corp. I can do my flips and wholesales through the C corp and lower my effective tax rate. I know ...
James Campbell
Gift of Equity Purchase Question
Hello all, I'm buying a rental property that I'm going to move into from my grandfather at a discount. When I told my lender he suggested I use a "gift of equity" as the down payment and that way I wouldn't have to co...
Steve Rory
Creative 1031 or bad idea?
Hi All-I have a single-family house with $170k in equity.We want to build a cottage and thinking of starting the process. The cottage land is owned by one family member who would gift the land. The other family member...