Yolanda Thomas
Purchase Home Affordable Modification agreement
I need help structuring terms to buying (if possible) a residential home that has a HAMP loan.The loan was started in 2012 and has a balloon note due 2035. Owner has made payments on time but is in late 80's and wan...
Justin Polston
Local bar owner looking to sell, tax implications/capital gains amounts if owner lives in property (and has for 40 years)?
Hi all, I listed a local bar/tavern recently and the owner lives in the upstairs and has for quite some town. When the property sells, what are the tax implications for the seller? There are no liens, mortgages, or...
William Latti
1031 of single family to multifamily with one unit as primary res
My tenant is interested in buying a single family home that has appreciated quite nicely since our purchase. The numbers don't make much sense any longer as a rental should he leave or we were to refinance. I can als...
Wade Fiegl
fire insurance claim and taxes
Here's my scenario: I had a primary residence I lived in for almost 10 yrs (2000-2010). I then converted it to a rental in 2010. My tenants had a house fire...total loss in Dec 2011. If I collect on insurance an a...
Brett Mountain
1031 exchange options
My in-laws inherited a commercial property (warehouse) and it’s in the process of being sold. Wondering if they have the option of doing a 1031 exchange on their portion of the sale (there are other siblings that will...
Alan Berlin
House Hack Percentage
I'm setting up my first 1031 exchange on a duplex sale that I lived in part of. The house was two units but they are not equal size. I'd estimate that our unit was %65 of the house. Does it go by percent of squar...
Cee Jay
1031 Exchange or 121 Exclusion Out of Duplex?
Hello BP,I am doing my due diligence and researching to buy a duplex and house hack.Specifically, it would be a Single Family Home with a detached Granny Flat, purchased with an FHA Loan.My plan is to live in one of t...
Tyler Hodgson
How Much Equity / Profit Sharing Would You Require?
If you had outside investors who would supply 100% of the capital needed for the down payments on some rental properties but you had to take out the mortgage in your name and title would be in your name, how much of t...
Maya A.
Can someone clarify this paragraph about Lease Option please?
Hello BP community!Reading a book on Lease Options now and got stuck on this one example. Please help me understand what it means. Facts: Seller has a home worth $235,000 and will sell it to you for $225,000 on an 18-...
Roger Simons
Can the CRA (Canada) tell your city your tax revenue?
If your rental revenue skyrocketed upwards the tax department would obviously know. Would they tell your city and if they did your appraisal might rise meaning your city taxes might rise. (Not what you want!) I was...