So I have someone that asked me an interesting question. He is considering buying a property that has a tax Lien on it. The seller is asking 38k for his property and if he bought this property regularly, all cash $38,...

I have always thought it was at the capital gains rate, but someone today told me that the gain on the sale of a primary residences is taxed at the ordinary income rate. Can someone clear this up for me? Thank yo...

Long story short , didn’t do my due diligence . Purchased not one but two properties from a foreclosure with no title search . Comes to find out each property has a mortgage. Combined with the price I paid through the...

Just went under contract today on a house in Richmond, Va.  It's located in the South Richmond District of Richmond, Va.  To the facts...4 BR 3 Full Bath2,497 Sq FtTwo story brick traditional Contract Price = $70,000R...

The following is question and answer on official auction website of St. Tammany, Louisiana.

Who is responsible for property taxes that become due after the tax title sale and during the redemptive period? The buyer...

Is there anybody in the DFW, Texas area that has done a 1031 exchange. I am about to sell my only rental property, but I am going to buy another one. I owe about $60,000 and I am selling for $90,000. I would hate to g...

Could someone enlighten me on the tax implications for the homeowner of a short sale. My understanding is that if they had refinanced there would be a 1099 issued, but if it was the primary purchase loan there would b...

Hello BP community!
I'm looking at a foreclosure property in IL. Mortgage lender is the foreclosing party. Judgment of foreclosure already ordered by the court. Sheriff's Sale scheduled for May.
Separate to all of t...

Background info...I still live with my parents in Ca and I purchased an investment property April 2012 at auction. I purchased for 139,000. Eventually did a conventional loan (25%) and currently owe 90k. Similar ho...

After answering this Q for the 100th client, I decided to make the answer public. The situation: You are one of the two partners, and you work pretty much full-time as the project manager for the company. Your partner...