Renae Pinkney
How to Prepare for Possible Rent to Ownership
Hello All, I am currently renting a 3br 1bath SFH (my grandmother owns the property) and I mentioned my plans to save 10k this year to purchase a rental property and move out shortly after. I was told if I move she'd...
Steve LeBlanc
Seasoned investor without W2 income seeking loan products
I'm a seasoned investor with a modest cash flowing portfolio ($2.8M value, $200K annual gross income) and capital in the bank. My wife and I have left the workforce and consider ourselves retired for the time being. ...
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Holding companies that pay you 5% per month on your $$
Hello, I am going to purchase a house here locally to move into and get my kids into a better school district. I have found what appears to be a discounted property and am in negotiations. I just ran into an old frie...
Lilly Fang
cash out refinance investment property? any tax implication?
I have a rental (market value close to 400K) with 100k mortgage left. I don't want to sell it right now, but want to get some cash out of it. Can I do cash out refinance on this? Is there any tax problem now or when I...
Richard Jones
LTV
If a bank approves someone for a home loan at 80% LTV, could I give them a 2nd mortgage for the other 20%? would that get them approved?
Or do they have to have 20% in cash to make up the difference?
Thanks,
Richard
Josh Freeman
Using Line of Credit for Down Payment
We are looking to use our line of credit for our down payment (while obtaining financing) and keep our cash in the bank. Do we have to transfer our money from the line of credit into our bank account to "season" as I...
Steven Straughn
Create LLC for family-owned rental?
Hi BiggerPockets. I'm looking for some advice regarding the transfer of property from my in-laws to their 3 adult daughters. I will, of course, seek advice from a legal/tax professional, but recall from time that I pr...
Casey Coffey
Cabin Dr 1
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $299,000
Purchased as primary residence back in 2018 with no money in the deal. Mortgage is $1008 and currently renting...
Jeremy Fruechting
Structuring/tax advice--buying rental with my daughter
So I have an LLC and own a few rentals. This year my daughter turned 16 and Grandpa gave her a cash birthday gift. So we're buying a rental together. It's owner finance, cash down payment of $2500, all costs (5%down p...
Evan Jarvis
Paying with (someone else's) cash - Tax implications?
I have a deal under contract and have raised some capital from a private party to pay for it. The lender will be treating this as a "personal loan", meaning I will technically be paying cash for the property and have...