Derrick Hilton
Purchasing a property from an owner for less than market value
I’m planning on purchasing a property from an owner/tenant for what they currently owe on the property. At the moment they owe something like 10% of current market value on the property.I am assuming the additional 90...
Felicia Hamilton
Quit Claim Deed - Transfer of ownership
Quick question I'm hoping someone can answer for me. I have an elderly family member that would like to give me some real estate. She absolutely does not want to put this in her will for her personal reasons. She w...
Zak Marinko
Using Private Money for a Down Payment
One of my partners mentioned that in order to be approved for a loan, your down payment cannot be a “gift.” In other words, you must have earned the capital through some legitimate means.When hearing this, I was confu...
Jeremy Martin
Cost Basis on Gifted Property
Hello,I’ve been reading up on carry over basis, but I have a specific question I’ve been trying to find the answer to.My grandmother transferred a house to me and my twin brother. She is still alive, and my father, he...
Maranda Tucker
Welcome Home Gifts for tenants?
Do any of y'all leave a welcome basket of some sort for your Long-Term tenants? My team and I are wanting to add a special touch (outside of the 2+ inspections / year we do) to let our tenants know that we care for th...
Harley Fowler
My parents are gifting me their house. Any suggestions on this?
My parents are gifting me their house. Any suggestions on the best way to do that?
Josh Oates
Buying Parent's house / Owner financing / Renting back to parent
My wife and I are trying to buy her father's house, move in and he would continue to live in the house and pay us rent. First issue is he is now divorced and ex-wife is still on the title and is entitled to half of t...
Paris Williford
“Gift Funds” from Partner (unmarried)
I’ve been doing some reading on “Gift Funds” as part of a down payment but it seems that only immediate family members are allowable sources. My partner and I are unmarried and I plan to apply for the mortgage on my o...
Cameron Kelting
1031 Exchange from LLC to Personal name
Hello all,Looking to get some advice on a scenario. My parents investment LLC used 1031 exchange money to buy a house that I want to put in my personal name so I can file a PRE exemption. Has anyone found a way to t...
Ryan Flake
Help with quit claim process
Hello,
A few years ago, I needed my father to co-sign on a mortgage with me to buy my first home. We decided he would just buy the house instead and I would pay in an unofficial mortgage each month. I moved out of th...