Tikii Williams
Seller wants to sell mortgaged property to brother
Hi Bp friends,I have a seller that want to sell his already mortgaged house to brother and mother. Neither one of them qualifies for bank financing. I suggested owner financing, but the seller want to buy another hou...
Eric Bailyn
Gifting Single Family Residence to Son: Any tax implications?
Hi Everyone!My mother would like to gift her $850K house (100% owned; no loan) to my wife & me. At the same time, my wife & I would sell our $1.5M house ($1.4M is equity), and use the proceeds to 1) transfer...
Justin Walters
Childhood Property Has Been Transferred to me by quick claim deed...
A bit of a backstory. A couple of years ago following the death of my father, my mother transferred ownership of a property in another state to me and my wife by way of quit claim deed. I did not put much thought in...
Casey Martin
Using gifted house to acquire another situation?
Hey all,I have been trying for a couple of months to figure this out on my own and would like some input please. This is the situation.I am being gifted my mothers house which is paid off. I’d like to move her closer ...
Adrian Thomas
DSCR Loans, caught holding the bag
Hello BP family,I recently bought my 3rd rental property in Salina, KS using a HELOC that I have on my primary residence (CA). I did a cosmetic rehab and rented out the home 12/1. I went to my local bank that I've ref...
Jonathan Weeks
Great Flood of 2016 thread. Reaching out to my Louisiana family.
Hey, guys.I hope everyone down in Louisiana is faring ok during these historic floods.I never in my life thought things could ever get this bad. A lot of my family/friends have lost their homes, but thankfully have ma...
Chris C.
Like to buy parents home and remodel
I'll try to keep it short. Wife and I are interested in buying her mom's home. We currently own a town home, have a young family, and have been gearing up to start looking for something larger. Mom wants to sell it fo...
Sean Imfeld
Ways to Unequally Split Profits?
So here's the deal: My mother (the money) and I would like to buy some properties together, with any rent profits distributed unequally to us both (let's say 90/10 in favor of my mother), with the understanding that ...
Jesse Watts
Looking to wholesale my moms rental property
My mother has a rental property that she let extended family stay in and they completely trashed the place and didn't pay for a number of months. My mother lives out of state and can not pay the necessary amount to ge...
S Harper
tenant application questions
We have only placed tenants 3 times, with one of them not working out very well (so I am gun shy). There are enough small things that bother me that I thought I would seek input from more experienced landlords.Single...