Nisarg Gandhi
HOW TO AVOID CAP GAINS ON PRIMARY RESIDENCE
Hi All!
I recently (November 2020) purchased a property in Northern California and the market lifted quite a bit in the 12 months (18%+). Sadly i am having to move cities due to another job opportunity but didn't wan...
Nick Cooper
Conventional loan says I must occupy for 1 year
I just closed today on my first property. We done a conventional 30 year loan and at closing there was a paper I had to sign that said I must have the home as my primary residence for 1 year. My wife and I are thinkin...
Walter Correia
Va home loan terms and conditions
Im sure this question has been answered before but here it goes. If i use 228,000 in VA loan to purchase a home am i able to use the remainder of the balance in the future as long as it totals 417,000? If this is true...
Satyan Merchant
Late Rent
Have a 5 day grace period in lease. Tenant sent me an email on 2/28 saying he just wasn't able to get to post office, but would express mail rent w/tracking number. Did so on Monday 3/2, expected to arrive on 3/4. ...
Saji Ijiyemi
Contractor doesn't want Payment Reported to IRS. Will I be able to take deductions?
Hello -- I need to do a major rehab on a rental property that will cost about $50k-60k but the contractor does not want 1099 and wants nothing to be reported to the IRS. I want to be able to claim deductions. For tax ...
Dillon Cook
Unique Capital Gains Question
Question for a CPA out there.. I have a client who bought land in March 2022. She then bought and put a mobile home on the property in July 2022. Can she sell in March and avoid capital gains tax? Or since the mort...
Keleisha Carter
Selling my BPCon Ticket
Hello,Due to circumstance beyond my control, I'm not able to attend the conference. I see that I can transfer my ticket, anyone thinking of purchasing soon I can transfer it to you
Michael Hammer
Short Sale Mortgage Qualifying
I have my first deal under contract and after being pre-qualified with plenty of income and zero debt, I may have hit a roadblock 3 weeks before closing. I went through a divorce where my ex thought it would be a good...
Josh Wickboldt
Primary residence loan rule for occupancy?
I am working with a lender and trying to pull some cash out of my primary home, which is a triplex that I house hack. I am deciding between cash out refinance and a HELOC. One lender tells my for their cash out refi...
Shannon Fogarty
Is there a market for sandwich leases on Long island?
Hi all, I am interested in concept of sandwich leases, but all the examples I see of people who have done them do not reside in NY state. Is it legal in NY? Is there a market for it on Long Island?