A tag for questions on real estate or property.

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1
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0answers
15 views

Tax Implications - First 2-Family Rental Property

My brother and I have opened up an LLC and have put an offer on our first 2-family for a rental. We have some questions on loans/tax implications for the business that we're hoping to get some ...
2
votes
2answers
498 views

Whats tips do you have for someone beginning to invest in property?

For a first time investor interested in investing in property, what are the options? Would they be better off buying their own home and holding it for capital growth, or a buy-to-let property they ...
0
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1answer
55 views

What's best investment option? Mutual fund or Property [duplicate]

I had purchased a home year ago and given it on rent. The rent I'm getting is only 5% of total cost of home while stock fund industry (mutual fund) is paying 20% minumum (reports from my country here ...
1
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1answer
84 views

Buyout information

My mother moved out of a home she owns 1/3 of. She would like to get a buyout. The house was recently appraised at $866,000. My mom paid $300,000. A friend paid $300,000, and my brother paid $216,000. ...
10
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3answers
1k views

Invest in (say, index funds) vs spending all money on home?

We are looking to buy our first home, and are evaluating how much of our savings to put towards the down payment of the property (or how much home to buy in general). When one has a choice, are there ...
0
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1answer
35 views

How do we calculate the gain on primary residence that was converted to rental for two years?

I'm helping some relatives with taxes, and am looking at a situation I'm not completely familiar with. The primary residence was owned for 7 years, but after living there for 5 years, they moved into ...
-3
votes
2answers
132 views

Living in my own rental property

I've come to understand that owning a townhome/duplex and living in it while others are also renting from you isn't as sexy as it may seem at first glance. Over and over again I get this from friends ...
2
votes
1answer
61 views

What is the cost basis of property converted to rental, purpose?

I purchased a primary residence in 2007 for $150,000 I converted in to rental property in 2014. At that time its fair market value of $40,000 What is my cost basis for depreciation? Is it based on ...
0
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1answer
28 views

Federal treatment of recaptured depreciation paid to DC?

Can I deduct from 2014 federal taxes the amount of recaptured depreciation paid to DC for 2013 on the sale of a property that was part rental/part principal residence?
0
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1answer
76 views

Taxes on gifting a home to a son?

My father owns a property (approx. value $175000) he owes $60000. He wants to gift the property to me. 1. Can I pay (or give him the money to pay) the remainder of the mortgage and have him gift the ...
0
votes
1answer
56 views

What is a Lower Penthouse?

I recently saw a Real Estate listing which curiously boasted that the unit was A lovely and spacious lower penthouse I always thought a penthouse meant the top floor, therefore one penthouse floor ...
1
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1answer
33 views

Value of a collateralized asset

I own a duplex and a business I am a part of wants to purchase more property. In order for the business I am involved in to get the loan needed I was given the option to put up my duplex as ...
1
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1answer
87 views

Jointly owned inherited house

My brother and I own an inherited house, his son and family has been living there rent-free for 7 years. Brother has been paying the taxes ($12k) and homeowners insurance, and what maintenance has ...
5
votes
1answer
538 views

What does “24Hrs Is A Must” Mean on a Real Estate Listing?

I recently read the following real estate listing: Beautiful Improved Home Comes Finished With Basement Apartment And Separate Entrance. Upgrades Include Granite, New Shutters, And Parquet Floor ...
3
votes
3answers
180 views

Does an LLC Protect me From Owing a Mortgage?

Let's say myself and my two peers, Adam and Ryan, start a limited liability company together, called Adryda LLC. We each put in $10,000 and take 33% equity. Later, Adryda buys a property with the ...
1
vote
3answers
142 views

Sell or keep rental Property?

My father has an old single-family home he purchased at the height of the real-estate bubble. He lived in the property for about 5-years, refinanced to 3.25%, purchased another brand new home designed ...
1
vote
2answers
40 views

Expenses vs Capitalizing?

I've owned rental properties and understood the difference between a repair (deductible that year) vs a capitalized expense (for a large appliance or carpets, for instance). I'm now in a new ...
0
votes
1answer
49 views

tax consequences on selling rental property for citizens living abroad

We moved to New Zealand in 2012 renting out our house in Colorado from September 2012 until the present time. We want to sell it and heard that if we sell it within three years of renting it, it is ...
3
votes
3answers
131 views

Should I buy my house from my landlord?

The situation This is a specific situation, but hopefully the general themes of the question will be helpful to others. I read the question at In general, is it financially better to buy or to rent ...
2
votes
2answers
71 views

Transfer of property proceeds from india to USA

I am a U.S. citizen currently in Hyderabad for the past 3 or 4 years. I am not working and have no income in India but have Social Security monthly pension in U.S. (below taxable limit in U.S.) and ...
1
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1answer
80 views

Real estate agent best practice

My wife has recently became a real estate agent, and since we've been flipping houses for some time now. She got really good referrals to get into this business. She is working with really bad ...
0
votes
1answer
41 views

What tax filings are required for real estate transactions?

I intend to purchase real estate with cash from a family member via quitclaim. What tax forms are we required to file reporting the sale?
1
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2answers
161 views

As a prospective tenant, how can I screen a potential landlord and what should I look for?

I am looking for a room and I came across one Craigslist Ad. Please find the image below for the Ad: As can be seen above, there are lot of things that a landlord is demanding from a prospective ...
1
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3answers
120 views

What is a tranche?

I am studying Collateralized Mortgage Obligations (CMOs) - My understanding is that the product consists of mortgages which have real estate as collateral. The mortgages are bundled in batches ...
4
votes
1answer
114 views

Does the death of a spouse affect capital gains calculation of the jointly owned home?

Say a couple jointly owns a primary home free and clear, and then one of them dies. The title is then transferred to the survivor. Does the fact the title transferred reset the clock for when the home ...
1
vote
1answer
77 views

Construction loans - when do payments begin?

For the sake of round numbers, consider this scenario: $300,000 land purchase $700,000 cost to build a home $200,000 down payment Figure building the home will take 1 year. My question is, for ...
4
votes
1answer
112 views

What are the tax consequences of selling a condo in Florida?

My wife and I own outright a condo in So Daytona Beach, FL. Our primary residence is in Wyoming. We would like to sell the condo in Fl and should realize about $50,000 above purchase the price. I ...
1
vote
1answer
287 views

Is buying a townhouse as a “starter home” a bad idea?

My wife and I are looking for our first home. We live in a somewhat high-cost area of the Northeast, so most of the houses we see in our price range need a lot of work or are in bad school districts ...
4
votes
5answers
1k views

What things should I consider when getting a joint-mortgage?

I'm currently renting and I'm wanting to buy a house in the area to live in (because I want more space and I want my money to go into an asset rather than simply losing money I'm paying in rent). ...
0
votes
1answer
85 views

What steps are required to transfer real estate into a LLC?

I'm a fairly new landlord, and learning as I go. Apparently one of the early mistakes I made when purchasing my rental properties was buying them under my name instead of forming a Limited Liability ...
4
votes
2answers
345 views

In-laws moving in (financial/tax implications)?

We are contemplating moving into a house with an in-law suite in Mississippi and our inlaws selling their house and moving into it. We would pool the sales from both houses as downpayment on the new ...
2
votes
2answers
135 views

401k vs. real estate for someone who is great at saving?

I'm a great saver, and I have no trouble saving at least 40k a year. I'm 25. I'm still not too sold on the 401k idea though... because I feel like it would chip away at my savings/income, money that I ...
1
vote
1answer
50 views

Mortgage loan and move money to US

If I re-finance or get mortgage loan from my existing property in my home country, and move money to the United States, which taxes do I need to pay (Income tax? Interest Taxes?) or what shall I take ...
2
votes
1answer
64 views

Can you take a capital loss upon sale after probate action assigns a different value?

I'm exploring an option for unwinding a real-estate investment with my step-father. Please assume that we're both amicable towards any viable solution. My step-father is currently the sole owner of ...
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votes
1answer
53 views

Any Loop Holes for Owner Occupancy?

My Client wants to buy a Fannie Mae property in WA as an owner occupant. He owns another home out of state (in california). He has family that lives here in WA. This particular Fannie house in WA ...
0
votes
1answer
67 views

Refinance FHA 203k to conventional

I am thinking of getting a streamlined FHA 203k loan for a home. The loan is for $101,300. The best offer I could find is 4% interest, but because of required insurance fees, I would pay $630.13 a ...
2
votes
1answer
54 views

Real estate loans for repairs

I am very interested in purchasing a foreclosed home that is sold by Freddie Mac. The outside looks great, but the inside needs some work. Basically, the previous owners took everything including the ...
2
votes
2answers
92 views

Can I retroactively get the tax assesment on my house adjusted and get a refund on previously paid taxes?

We're in the process of selling a former home. Our listing price has been sinking all along, but it is about to go below what's listed as the "assessed market value" of the home - that is, the value ...
3
votes
1answer
139 views

Dealing with Home inheritance

I have been living in my grandmother's house for the past 20 years. The house has been paid off for years. During that time, I have taken care of her and the house until she got bedridden. My aunt had ...
1
vote
2answers
66 views

Withdraw from IRA or regular savings for First Time Home Buyer?

What is the optimal way to source the funds for down payment of a first time home buyer? I understand if I withdraw 10k of an IRA account there will be no 10% tax penalty, but there will be taxes to ...
2
votes
2answers
115 views

renter's insurance for causing property damage

It seems that renter's insurance only covers the tenant's property and perhaps guests. I suspect that a far bigger financial risk for a tenant is in liability due to causing a fire, flood or other ...
22
votes
7answers
3k views

What's the catch in investing in real estate for rent?

I can see a 2 bedroom, 2 bathroom $100k property on Zillow (est. mortgage $375/mo) next to a university so rent prospects are good. Rent estimate by Zillow, confirmed roughly by Craigslist: $972/mo. ...
4
votes
1answer
216 views

As a Canadian, what should I invest in if I'm betting that the Canadian real estate will crash?

I apologize in advance if this question seems unethical as you may think I'm trying to profit from people's losses. I'm just trying to protect my investments. So here's my question: if I'm betting ...
2
votes
1answer
443 views

Does a falling dollar mean doom for real estate?

The Aussie dollar has started its downward trend and is predicted to go down to USD 70 cents. I was planning on purchasing a property for myself to live in. However, members in public forums are ...
0
votes
0answers
38 views

Profit sharing on pagdi house

I have bough my 1bhk flat for 2lacs on pagdi system and now I want to resale it. How much share I'll get on profit if my house is sold for 12lacs.
2
votes
1answer
228 views

Can I take a loan against propety in my children's name?

I am from Chennai, India. The house which we are living in Chennai used to be in my father's name. My father has four children and I am the last one, daughter and I am widowed and living with my ...
2
votes
1answer
71 views

How correlated are apartment and house prices in the same area?

I live in a city (Australia) where I think apartment prices are going to fall. I think they've already fallen a little bit but there are so many more units coming online in the next year or so. ...
1
vote
2answers
368 views

Construction loan for new house replacing existing mortgaged house?

Let's say I buy a home with an ordinary thirty-year mortgage, intending to renovate the house slowly and live there a long time (ten years at least). Five years into the mortgage, however, I decide I ...
8
votes
4answers
816 views

Rental Property: What is considered decent cash flow? (with example)

I'm looking into buying my first rental property in Syracuse, NY. I'm looking at this one: http://www.zillow.com/homedetails/317-Wellesley-Rd-Syracuse-NY-13207/31678383_zpid/ The current list price ...
1
vote
2answers
132 views

Rental Properties: Is it good or bad that I can't find rental listings on that street?

I'm looking into investing into real estate and rental properties. I live in NYC, and want to check out properties in Syracuse. An agent gave me a list of his listings and I'm looking into one of ...