Zachary Ulven
Refinancing a gifted home to rent out
My father was looking to sell his old house (Aurora IL) and be done with it. My suggestion was to gift it to me and let me refinance to pay him (keeping loss for closing costs down). What are your thoughts? Are there ...
Account Closed
2019 Tax Planning Tip for Pass Through/Service Businesses
As we go into 2019, figured I'd share a tax related planning tip that I personally feel will be important for business owners and RE professionals moving forward. For complete details, please reach out to a tax prof...
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...
Mark G.
Transfer Home Tax Basis from Parent to Child - California Prop 58
Does anyone have experience with parent to child real estate transfers in CA? I understand there is a mechanism that allows a child to buy a home from their parents and retain the original real estate tax basis under ...
John M.
Getting Rental from parents as gift vs as a purchase -- effects on depreciation/taxes
My parents bought a rental back when I was in college and now they're going to give it to me. My name is already on the deed as are their names from when it was initially bought.
I'm trying to figure out the best way...
Nate Stitchell
Gifted property from relative
So my relative is gifting me a property. Have no idea how that process works or how much it could cost?Looking to keep property in family but rehab and rent out. Owner currently owes under 15k on property but looking ...
Account Closed
Disrupting a Good Tenant
I have a somewhat easy, but worthwhile question. I have a tenant that has paid like clockwork since beginning a two year lease in March. In my lease agreement it requires the tenant to notify me of any adults that ...
Ryan Schuler
Funds from Parents for buying investment Properties
I am in the beginning stages of looking into how to work a deal with my father on my first investment property and the best way to structure a deal with him where he would provide a chunk of change for the deal.I rece...
Elmer Foster
How to assume income property from relative, no money down
I am a newbie and I have a father-n-law that would like to sell his triplex to me. He is not interested in the price as much as he is wanting to retire from Landlording. It is mortgaged and the balance is close to mar...
Taye N.
Business plan set and contract setup
Me and a friend want to team up and do a owner occupied fha loan BRRR
Our goal is to have him buy a multi-family unit and live there and slowly repair it and bring it up to market rent.
I have enough for a deposit b...