Jeff G.
Qualifying a buyer for owner financing
Hi all. 2 partners and I are trying to sell a SFR via owner financing, and we could use some guidance on what we should / can / can't do regarding qualifying a buyer. Credit check? Current employment? Employment histo...
Eric Williams
Disregarded Entity Qualification: Married Couple in Community Property State
Rev. Proc. 2002-69I found this guidance and thought I would provide a summary:It was issued to remove uncertainty surrounding treatment of an entity owned solely by a husband and wife in a community property state.Ess...
Jeff S.
How many flips per year, after holding a year, and keep cap gain rate?
How many properties can you buy and sell, assuming holding at least a year, to maintain investor status (cap gain 15%) and not dealer (pay tax at higher rate)?
Michael Willis
Lagoon Water Treatment System
Hi All, can anyone chime in on whether a Lagoon Water Treatment Facility is something to run or not be afraid of. I have been told by certain agents that a Lagoon is the next best thing to city water and sewer. Is th...
Boris Psakhis
Need 1031 Exchange Recommendation
Hello,
I am a new investor and I am ready to sell my first flip which turned out to be a home run (thanks to my mentor -- and informational sites like this one)! :D
I plan to use all the proceeds from the sale ...
Janene Tompkins
Input on This Deal Please
Hi All, I am considering a park in Alamance County, NC and would appreciate input from all you wise folks. Here are the details:70 spaces, 20 lots are rented and are tenant owned homes. 3 homes need rehabbing. Lot ren...
Porter Rappleye
Rent or Flip Debate...
Calling out to all Buy and Holders. I need some expert advise as to whether I should sell my property or rent it out. Let me lay out the scenario... I bought a home about a year ago for $140k with every intention to...
Michele Ghastin
Need for tax lawyer to set up new businesses
We are purchasing a commercial building in Lake Lure NC ( convenience/ grocery on top restaurant below) and we need to set up the two corporations and have a CPA/ lawyer on our team. Please let me know if you are one ...
Account Closed
Can i sell a gifted house inorder to buy a bigger multifamily?
Hey guys, so this is the situation.I was gifted a paid off single-family home recently. the property needs a bit of work here and there but overall it is in great condition!I plan on fixing it up a bit and selling so ...
Heather Finley
selling a house with tenants
I am a new landlady, and don't want to be so for the long term.
For now, the tenants are paying my mortgage. I wanted to hold for at least a year before selling (in case I couldn't find an adequate 1031) to avoid ca...