Llewelyn A.
Collecting on a Personal Promissory Note - Weston, Florida
I wrote out a Promissory Note for a Personal Loan to a relative for $50k.The Relative works in Weston, Florida and earns 6 figures.The 1st Payment is due on Jan. 1st, 2018 but I despite trying to contact my cousin, he...
Vickie Tan
Tax to pay for flip properties by seller finance structure
I am a real estate agent, I flip some properties in 2010. One of the property I bought , after the fixup I sold it as seller finance deal in 90 days. I need advice on if I may claim as a real estate professional or a...
Andrew Meringoff
Installment sale interest vs. cap gain
Situation:Found a seller who wants to sell but doesn’t want to pay 300k gain all at once.Pure vacation property/second home. Bought for 359k will sell for 659k in this example.Assuming 150k down payment in 2024 50k an...
Jordan Brown
Seller Finance Mini Storage/Commercial Property
Investment Info:
Other commercial investment investment in Talent.
Purchase price: $1,500,000
Cash invested: $15,000
Recently purchased a self storage facility with 106 units, 46 RV spaces, a 4200 sq...
Bob M.
Form 6252
I bought a property subject to an existing contract for deed to another buyer that was already in place from 3 years prior. That buyer rents the property and has been making timely installment payments on the contract...
Ezra Nugroho
Tax Implications of Seller Financing via Note
Hi all,I just read this related topic on tax implications of Subject To: http://www.biggerpockets.com/forums/51/topics/1303...My question is what are the tax implications of seller financing that is done via the creat...
Account Closed
Borrow for Down Payment
I'm eligible for a loan from Lending Club for $24k. Can I use this money as a down payment for a conventional product/hard money skin in the game? Or is there some rule that bans borrowing for a down payment?
Troy Muhammad
Real Estate Assignment Contract
I entered a lease purchase with owners of a property and signed a real estate assignment contract with a 3rd party (who are not the owners) that had installment payments (4 payments $2500 due on the 20th of each month...
David Lee Hall, III
Owner Financing Processing
I have had a couple scenarios where I have done a land contract for installment payments on an acquisition. I have one coming up that is going to be a traditional seller financed mortgage with a note/lien.
Does anyo...
Peter Tryon
Land Contract
Hello everyone,
I am new here so I apologize if this is the wrong section to post this.
But..I am currently working on purchasing a multi family property using seller financing. I have negotiated a price and set term...