Austin Bull
primary residence qualifications...?
Hey all,I'm planning on using a primary residence loan on my first SFH or small multi-family house-hack; most likely an FHA loan. BUT..I am wondering what constitutes a primary residence?-Can I live there part time an...
Ellen Xu
Tax implications of closing cost of cash out refinance?
I refinanced my residence last year to get cash out to buy an investment property, so I have two closing costs: one for refinancing my residence to get money out, the other for buying the investment property. Could I ...
Haleh Olfati Johnson
1031 exchange to build an ADU
My husband is selling his rental townhouse and we are using that money to build an ADU on our property in order to rent it out. Since we would be using the money in the same manner could we use a 1031 exchange to defe...
Account Closed
Can you do a 1031 exchange of a personal residence (trick question)?
When you read section 1031 it is very clear that personal property is not included in this type of exchange. Homeowners that qualify though can take the section 121 exchange.
There are circumstances though that a 10...
David Malott
Loan qualification
I have recently been pre-qualified for a loan of $125,000 to buy investment property. I'm planning on selling my principle residence, move and buy a new principle residence in my new location. If I buy an investment p...
Dennis Morris
Raising Capital for multi family
Trying to do a house hack in my market which is Florida I want to use a FHA for a 2-4 unit but the inventory is very low and purchase price very high but there are plenty single family. Would it be wise to get a singl...
Nilusha Jayasinghe
Tenant screening- credit scores and SSNs
Hi all,
I'm a new small-time landlord figuring out my process for screening tenants for an apartment in Chicago. It seems like most all popular screening services like Mysmartmove, Rentspree, etc use the Transunion "...
Marshall Easlick
I am looking for a local bank recommendation in Fort Collins, CO
The title says it all! I have worked with Wells Fargo and Cornerstone lending so far but I want to work with a local bank for my next move. Does anyone have a good recommendation for a 'small' bank in Fort Collins, Co...
Tara Baldauf
Taxes on profit from a live in flip
I bought a house to flip that I am using as my primary residence. I will have the renovations complete after 6 months of ownership and want to sell right away. This is my second flip (the first house I owned for 3 yea...
Michael Zagorsky
AL State Income taxes for Non-Residents
Just wondering what other non-residents do for AL State income taxes. We are getting tired of paying $40 for Turbotax to buy a state where we owe $7 in taxes to AL as a non-resident for our Gardendale property.