David Pendergraft
How to invest with family?
BP,We are buying a rental property in Seattle, Washington and our family would like to invest with us. They will be giving us $50k towards a $600k property. It is not a "gift", they want their share of the income and ...
Lisa Dreher
Private money lender - confused about the logistics
I have a family member who wants to invest in my next property. But as we’re getting closer to making this happen, I realize you can only gift a person $15,000/year without tax consequences. If they want to invest mor...
David Wooten
Gifting Equity Question
I've been contacted by someone who lives in a house he's buying from friends. The friends hold the note but are now getting divorced so they want him to pay off the note. The house is valued around 230k. He owes 17...
Justin L.
Transfer of Property from Partial to Full Ownership in California
I own 27% of a rental single family home which was acquired in 2016 and now my grandparents are looking to gift the rest of the 73% which they own to me. They plan to gift it to me with the intention that I can excha...
Dan Desler
Using a 'gift' for a down payment
Hi AllI am looking at getting started at investing in rental property this summer. I have only been in the USA for 4 years (emigrated from the UK), so I don't have too much capital or equity in my personal home, 401K ...
Larissa Pacifico
What should I do? Keep or sell?
Property price + rehab = 420k cost I’m paying 2.200/monthly for hard money. So I’m not getting any offers better than 425k paying comission I would loose money. So I’m thinking about keeping it to rent. Please let me ...
Jason Mergl
Gift to Property Manager
I am in the rare position to have an awesome property manager. I am an out of state, sometime out of the country landlord and I needed some updates and repairs done on one of my properties. Before she made any money...
Andrew Goduco
HELOC loan from family member - CPA Welcome
Hi BP,I’ve been looking into creative ways of raising private capital and through my research one possible option I landed on was to have a family member (my Mom) take out a HELOC on her primary residence (she has ~ 9...
David Driscoll
Looking a smart tax person
I would like to buy a property, rehab and flip.
The situation: The owner/daughter inherited it from Mom and Dad, the property is free and clear. The property is vacant and the owner doesn't intend to ever li...
Jason Malabute
I finished my taxes
I just finished preparing my own personal taxes (LLC tax returns included). IT TOOK ME HOURS! Many people would be impressed that I do my own taxes and the money saved because I don’t have to pay another professional...