Kerry White
Looking to save on closing cost
So i bought my first property 8/13 I'm responsible for the 2014 taxes which are roughly $3,500 i have been holding and renovating this for quite some time now due to unfortunate events. But now i am ready to sell. Hom...
Nicalaus B West
Quitclaim Deed, Mortgage, and Cash Purchase Rental Property
Situation:My mother owns a house in Illinois in the country and has no mortgage or outstanding liens against it except 1 year of taxes that someone someone bought in a tax sale. She was injured in her 30's and now rec...
David Gore
Tax Questions on Installment Sale of Inherited Property
My grandfather passed away two years ago. My mother inherited the home, but wants me to have the proceeds from the sale of the home.I have a potential buyer interested in a land contract.I need to determine the best w...
Gordon Starr
Should I hire my own kids to work for me?
Hey everyone,I am a sole proprietor with a steadily expanding buy and hold portfolio. My kids are age 8 (son) and 10 (daughter). As a single dad with sole custody, the kids have always tagged along in some way - somet...
Francis Rusnak
Best cash-flowing areas for Rentals in Chicago Area
What have you found are the best areas to get buy-and-hold rentals in the Chicago area with good true cash flow?Looking most at price to rent ratios with a combination of good area.Prefer South and West Suburbs. I'm s...
Daniel C.
Better way then cashing out 401k?
At first read, I’m sure the amount of reasons not to cash out my 401k will be many, but I want to give context and see what you guys think.
I have about 250k in a past employers 401k. My options with it are to cash ou...
Tera Jonnes
Tax Lien- Deceased Owner but Family wants Home Back
Hello, I recently paid the taxes on a home. The property was a tax lien. The owner of the home is deceased. I haven’t heard anything about anyone wanting to pay the taxes so I’ve started fixing up the property. Recent...
Duke Giordano
Real Estate Syndications/Funds and Tax Implications
Hello All,
I am looking to dabble in the Real Estate arena and mainly looking at syndication deals as well as Funds that have tax benefits. My goal is primarily to diversify from the market more than a public REIT, ...
Lauren Beech
Is a quit claim my answer?
Good evening everyone!
I am looking for some advice on the proper way to turn my current primary property into my investment property. I currently have a LLC that I would like to transfer my property into but I've r...
David Mirza
how do banks calculate income for an existing rental
I understand that for a Fannie Mae conventional loan, if you don't have tax returns for a rental, most lenders will count 75% of your rent as income and the full PITI as your debt. The part where I'm not clear on is ...