Dorian Wood
Using a pesonal loan for down payment
I'm short on cash but have good credit and income. I am considering getting a personal loan to help fund my first deal. Has anyone had any experience with using a personal loan to fund their first real estate property...
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...
Drew Phebus
Gifting a House
Hey everyone, I’m reaching out to see what everyone’s thoughts are on gifting a property. I have a family member that is willing to gift me one of their rental properties. Is this as simple as going to to county recor...
Jason Collins
Best way to pass real estate wealth to your kids?
Just wanted to see what other’s experiences are with passing on wealth to future generations as tax efficiently as possible (both short and long term)? Can you please give examples of techniques that have worked for y...
Kristi Monighetti
Buying House from Parent With Unique Circumstances
In 2018 I separated from my husband and needed to buy a house. Due to my pending divorce my dad helped with my house, I put the money down to buy it and he obtained the loan and also left me off title (long story ther...
Paul Allen
Married Folks: Joint or Separate Bank Accounts?
Just curious how the DIY REI married crowd handles banking. Is your money merged? Is your money separated. Do you take a hybrid approach? Does being a RE Investor influence that decision?Wanted to take an informal pol...
Joshuam R.
Hold primary mortgage, But add a friend on title.
Steps:
1-Live in and hold mortgage on primary SFH
2-Add additional persons to title only
Scenario, additional person on title gives closing cost $$ of 3.5%, add the person to title as 7% ownership and rides it out ...
John Williams
Rent Reduction vs. Renewal Bonus
Hi all,I have a family that is considering renewing their lease for another year. One of the family members was laid off, so they've also asked for a temporary reduction in rent of $200 for the remainder of the year. ...
Casey Keck
Borrowing Money From Family
My wife and I are selling one property to purchase another. We were doing a bridge loan to secure the property prior to selling our current property. Now we are being told that the funds from the bridge loan will not ...
Patrick H.
Quit Claim Deed Transfer Tax and Basis
The property is located in California.
I am filling out a quit claim deed for property that my brother and I have in joint tenancy. He will quit claim deed his portion to me.
1)
For the transfer tax calculation,...