Mona Russo
Tax Ramifications of Quitclaim Deed
Hi Everyone.My 78-year-old mother owns a rental house in Texas. She is tired of being a landlord, and she wants to quitclaim the property to me. If she quitclaims her interest to me, is that a taxable event for eith...
Kevin Duke
Tax implications on a home sale
Here's a situation I've come across. How would you handle this?
- A married couple owns a home on Long Island, NY. They haven't lived together for 20 years- He is an out of state resident residing in Massachusetts,...
Chaz S.
Thank You Gift?
I got a great deal on a piece of property from a developer I do work for. Not only did I get a great deal, but they subordinated a decent amount so that I could get financing to build a house on it right away and ...
Patty C.
Loaning Money To A Friend For Down Payment
A good friend and colleague owner occupies a three bedroom condo that he does not like. He feels it is too big, not walk-able to destination activities (restaurants, movies, parks, grocery stores, etc). It does not ha...
Rhondalette W.
Please advise-15% down or 20% down- gift money issue
I am in the process of purchasing my 2nd and 3rd properties with conventional financing from the same lender. Originally, I planned to put 20% down on both properties because I thought that it was a REQUIREMENT that i...
Laura Sulak
Fees for successful tenant referrals: What do you do?
Do any of you pay others (current tenants, friends, family, realtors) a fee for a successful tenant referral? We're talking about renters/tenants only, no sales, wholesaling, etc. By successful, I mean that the tenant...
Stephen McCracken
Cashout Refi on Relative's House to House Flip & Tax Ramification
Hey Guys,Just got off the phone with my CPA (out in California)... relocated to Denver a few months ago.I recently refinanced a retired relative's home (I was named co-borrower hence now on Title as joint tenant)My qu...
Thomas DiGregorio
Using gift equity for down payment
I'm in the process of purchasing a home and looking for some advice or others opinions. I am purchasing a home from a family member for about 150k below market value. My two options are to receive a gift of equity for...
Daniel Madrigal
Need opinions on strategy and loan
My mom is essentially selling her condo to me at half price. I'm currently living in it and am planning on doing so for at least few years. I would like to tap into the equity left over to invest in a future...
Marvin Long
Gift cards for Tenants
Thinking of giving my tentants gift cards for christmas..$25 to $50... anybody do this??? It is the season...Happy holidays