A tag for questions on real estate or property.

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0
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2answers
20 views

Can I back out of a house purchase after the inspection if the offer stipulates “as is”?

I need your help more than ever. I made an offer on a house (state of Arkansas), and got a counter offer, and now I am about to accept it EXCEPT there is one thing that bugs me: the counter offer ...
1
vote
1answer
18 views

Is there any instrument with real-estate-like returns?

I want to shift part of my portfolio away from stocks into real estate. I've found that if I bought real estate directly I could expect about 10% in yearly returns. The problem with buying physical ...
2
votes
2answers
53 views

What purchases, not counting real estate, will help me increase my cash flow?

I've read several books that recommend making purchases that increase your cash flow. Most point to real estate as the way to go, however this requires a big commitment and some working capital. Is ...
2
votes
1answer
45 views

Owned house for less than 2 years - 1031 exchange?

My wife and I bought our first house about 8 months ago. It turns out it's not the right fit for us (for many reasons). Because of this, we want to sell it and move to the suburbs on the other side of ...
0
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2answers
200 views

Why are Rausch Coleman houses so cheap? Is it because they don't have gas?

I have been looking for a new house for 5 months now. An average price per square foot in my area is $100. However, Rausch Coleman Homes is offering very nice and SUPER CHEAP houses for $75 per square ...
10
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2answers
2k views

Do I owe a finders fee to my tenant's broker if they didn't bring me the referral?

I am currently using a broker to help me find new tenants for my rental home. Currently, she has only advertised the home on Craig's list. However, at an open house that she was hosting for another ...
1
vote
1answer
95 views

Can I remove additions from a forclosed home? [closed]

I would like to buy a porch off a foreclosed home however removing the porch will leave a huge hole in the side of the home is it legal for this guy to sell me the addition he added on? to add the ...
-2
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0answers
23 views

selling additions off forclosed home [duplicate]

The house is in ky. this man is the previouse buyer he let the loan go after he divorced now the lenders are taking the house in fact some preperations have been made to move the structure. and i was ...
0
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2answers
78 views

Is renting out a house still a lot of trouble if you rent through a real estate agency?

I often hear people speak about the difficulties of renting out a house, such as dealing with damage to the property, delinquent tenants, occupancy, etc. Where I live (the US), real estate companies ...
1
vote
1answer
138 views

Capital gains for agricultural land converted to non-agricultural land for the purpose of sale?

I held some agricultural land in Gujarat state for 14 years, and sold it on 20th August. As per the law in Gujarat, a non-farmer cannot hold agricultural land, so the land status was changed to ...
5
votes
1answer
1k views

Can I put what I earn from the sale of my house in the bank?

I bought my house for $247K in 2000 but refinanced and now owe $300K. I've also put in at least $12K in upgrades. I can probably sell the house for $450K, for a profit of $150K. Should I quickly ...
0
votes
1answer
61 views

Can the Philadelphia Center City District Tax be deducted on my Schedule-A?

I'm a full time salaried employee living in Center City Philadelphia. I own my own home and I am wondering if the Center City District Tax can be deducted from my federal taxes on the Schedule-A form ...
0
votes
1answer
34 views

What is “Last escrow analysis date”?

I am looking at the 'Escrow Details' on my mortgage and the "Last escrow analysis date" is listed as as 05/01/15. Obviously that date has yet to come. So what does this date represent?
2
votes
1answer
84 views

Is “affordable housing” being added across the street from my condo likely to decrease my condo's value?

I live in a pretty nice condo in a growing area. There are several open fields around my neighborhood, and the city has decided to build "affordable housing" apartments directly outside the perimeter ...
1
vote
1answer
121 views

1031 Exchange and Taxes?

We were given a property by my father in 2001 who was doing a 1031 Exchange on an investment property. Once we were given the deed and title of the property a year later, we started using it as a ...
5
votes
5answers
380 views

Home owners association for houses, pro/cons

(there is a question about home owners associations for condo communities here, so this is a) not a duplicate and b) fit for this website) In most contexts where I hear about a home owners ...
2
votes
0answers
39 views

Is there any possibility of doing an equity release deal on a property you don't (currently) own?

There are various equity release schemes to let you release some of the tied-up value in a property you own, see eg. http://www.equityreleasecouncil.com/faqs/ Is it ever possible to jointly purchase ...
1
vote
0answers
41 views

Do i need to declare property in India when living in USA

I have been living in US and paying taxes, filing FBAR to declare the foreign bank accounts. My question - do i also need to declare my property like the house in which parents are living (but its in ...
0
votes
1answer
60 views

How do practically determine a house's value

How should someone determine the value of a house, practically speaking? I understand it helps to look at the price of comparable places in the area, but there are so many variables at play that I ...
0
votes
2answers
45 views

Tax implications of selling a non-owner-occupied house and receiving installments

My mother is in the process of selling her rental unit to a buyer. They have a contract laid out where the buyer is making 10-year amortized payments for 5 years, with a balloon payment at the end. ...
1
vote
2answers
138 views

Possible to remove condo townhouse fees?

Apologies if this is a dumb question. I was recently advised by a real estate professional that I should look into getting myself a condo townhouse because they are way more affordable than buying ...
0
votes
1answer
41 views

Trading an FHA loan to bank for an REO

I hope this is the right location for this question. I couldn't find a section that better fit this question. If this is not the right place please let me know. I got a house 3 years back using an ...
10
votes
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 ...
1
vote
1answer
60 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
593 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 ...
1
vote
1answer
90 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. ...
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votes
2answers
170 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 ...
0
votes
1answer
78 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 ...
0
votes
1answer
68 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 ...
0
votes
1answer
31 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?
2
votes
1answer
112 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
votes
1answer
86 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
70 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
vote
1answer
35 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 ...
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. ...
1
vote
1answer
95 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 ...
4
votes
1answer
168 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 ...
5
votes
1answer
557 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
196 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
190 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 ...
9
votes
6answers
715 views

What is the best way to stay risk neutral when buying a house with a mortgage?

I'm looking to buy a property. I do not want to take a risk on this property. Its sole purpose is to provide me with a place to live. How would I go about hedging against increasing interest rates, to ...
11
votes
3answers
7k views

If I sell my house, will I have to pay taxes on the profit?

I am in the United States, in Colorado. I purchased a house in July of 2013. It was in poor condition, so I spent the first two months repairing things before moving in. Now, 11 months after moving ...
1
vote
2answers
45 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 ...
6
votes
2answers
232 views

Keeping our current home (second property) as a rental. Will it interfere with purchasing a third home?

Prior to moving to our current location, my wife and I lived in a one bedroom condo. We continue to own the condo, owing about $80k on it. We get enough rental income that we make a profit after condo ...
0
votes
1answer
89 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
278 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
172 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
88 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
48 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
vote
2answers
219 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 ...