Cameron Wutzke
Parents forced me to co-sign for my credit, does this bar me from FHA?
Hey BP community!My friend is in this situation, wanted me to ask the forums about it:When my parents bought a house many years ago, they made me co-sign because my credit score was higher than theirs. Ethics of this ...
Krishna Shiwdin
Parents want my help managing 4 buildings in NYC. ~100 units
My parents own two apartments buildings (rentals, mostly stabilized rents) in Manhattan and two in the Bronx, About 100 units all together. The manage them their selves and They want me to help, learn and expand the ...
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...
Steven Lewis
How to properly pay back a LOC for correct write-off
I was blessed to have money gifted to me from my parents from their LOC (line of credit). The LOC comes with a monthly payment which I am looking to pay so I get that tax benefit. I'm looking for advice on the best wa...
Chris G.
Flipping and Rental Business Structure
I am looking to start my business venture in NY in the next few months. I've been researching endlessly, but there is one question I can not seem to find an answer to. How do I properly structure my company if I am th...
Ryan McNeill
Transferring deed between family members
Hi everybody....I'm new to the forum, so thanks in advance for your help. I did a search and saw a similar question asked on here, but it was sadly unanswered.My situation is this...I am looking at a foreclosed inves...
Fred Rivers
Tax Question: What is the $500 per month payment to my parents?
I was gifted a house from my parents worth $50,000. I agreed to pay them $500 per month up to $7,660 to cover the money that they had tied up in the property for previous improvements. I rented the property for $600 p...
David Wong
Gift property or sell property?
We are helping my parent-in-law to buy a new house. They own a Townhouse now. We want to take over the Townhouse as a rental property.The plan was I buy the townhouse from my parent-in-law, and they take the money to...
Andrew Hyder
Tax advice on complicated family gifting
I am looking for advice on a situation I am in. I just want to preface this that I am not gloating or bragging in any way shape or form here but seeking real advice. My parents have a second home they purchased severa...
Bienes Raices
Cosigner (how does it work)
When you have a parent cosigning for a college student, is the parent's name actually on the lease, or do they sign a separate agreement that they share financially responsibility with the student? thanks