Mike Malyy
Mortgage I am not liable for counted in my DTI
Hi,I am a still a small time investor and still work my W2 while I try to build a portfolio. I am currently running into an issue with some lenders which prevents me from acquiring financing. I own an investment prope...
Scott Smith
Owner occ tax rules/ disabled parent
Hi Folks - Alright, here's the context: myself and family are building a spec home. Selling our current residence now. Moving into our rental property while our future residence is being built. Expect to be there f...
Michael Theo
Prop 19 Parent Child Exclusion for Multi-Unit Property
Does anyone know how the Prop 19 parent-child exclusion applies to multi-unit properties. My parents and I occupy 2 units in a 4 unit property as our primary residence. If my parents transfer the property to me will t...
Nghi Le
Mortgage Broker in Seattle Area
Looking for a smart and creative mortgage broker in the Seattle area. My primary broker that I've been using for the past 5 years has gone MIA in the past month, and I need to buy another personal residence (either f...
Account Closed
Tapping in to my parents home equity ???
My parents have had their house paid off for over 15+ years already. The house is worth about $250k. Is it a good idea to finance the house to tap into the equity? (using the money to invest in more real estate).My co...
Luke Berry
Tricky Lending Situation
I house hacked my Primary Residence for $580,000.00 In January of 2021 ($3,000/month PITI, 548k Principal balance remaining). I originally thought that I could qualify for the loan by myself because my 3 roommates wer...
Mike Atel
Gain on Home...then rent..how to capture gain
1. Fiance's parents bought a condo in 2006 for ~600k. Only the mother's name is on the property.2. Fiance lived in the condo for ~5 years with no lease. Basically a grey primary residence for her3. Now have the o...
Darrell Brand
Capital Gains Question
Scenario: Parent and child co-own a non-rental property. Parent lives in property, child is silent investor living elsewhere. At sale of property, a $300K profit is realized.
Question: Is full $250K cap gains exempt...
Brent Perkins
Purchase home with cash, then obtain mortgage?
Hi there! We are looking to purchase our next home: our parents are willing to pay for the home with cash and then allow us to obtain a mortgage to pay them back. I am wondering how the logistics of this would work?Po...
Johnny Situ
Tax benefit for primary residence in SC
Hi BP folks,
I am planning to transfer part of the ownership of a rental property in SC under my parent's name, so that they could live there and be able to claim it as their primary residence. My question is, if th...