A tag for questions on real estate or property.

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1
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1answer
110 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
1answer
36 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
votes
0answers
13 views

calculating capital gains on property for non residents

I am a non resident of canada but canadian citizen. I bought a house in alberta for 250,000 in 2004. I became a non resident in 2006, the market value of the house was about 450,000 then. I would ...
1
vote
1answer
91 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 ...
4
votes
5answers
967 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
51 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
330 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
113 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 ...
2
votes
1answer
49 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 ...
1
vote
1answer
44 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 ...
6
votes
4answers
869 views

Why do I need an attorney to buy a house?

I thought my real estate agent would cover the whole thing. How does an attorney get involved? Why do I need to hire one on my side? I ask this because I have read about it in first-time buyer help ...
6
votes
4answers
470 views

Is there any truth to the saying '99% of the world's millionaires have become rich by doing real estate'?

What is the truth behind the saying '99% of the world's millionaires have become rich by doing real estate'? Do you know the original source of the statement?
2
votes
1answer
50 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 ...
-3
votes
1answer
48 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 ...
2
votes
2answers
107 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 ...
0
votes
1answer
37 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 ...
1
vote
1answer
85 views

Are “hard money loans” meant only for real estate?

I am interested to know whether Hard money loans are meant only for Real Estate or other fields too.
2
votes
2answers
81 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
119 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 ...
2
votes
1answer
159 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 ...
0
votes
0answers
31 views

What is the easiest way for a non-american to purchase real estate in the US?

I am curious to know what would be the easiest ways to purchase real estate in the US and also like to know what would be the best places to learn about purchasing real estate in the US. Any laws I ...
1
vote
2answers
57 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 ...
20
votes
6answers
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. ...
6
votes
2answers
303 views

How do I calculate the (likely) property taxes on a new home in a new area?

I live in Texas where there is no personal state income tax, but there is a significant tax on real estate. I am considering buying a new home, built to my specifications (ehh, to an extent...) in ...
7
votes
4answers
3k views

Are parking spaces and garage boxes a good investment?

Suppose, the following scenario: You have an investment budget available to buy a parking space or garage box. (In Belgium that would be around €25000 ($30K).) currently the saving accounts make ...
4
votes
1answer
161 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
313 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
27 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.
18
votes
4answers
938 views

Is home renovation ever a good investment?

For years I was under the impression that renovating a home was an investment. However, when I look up return on investment for typical home renovation projects, it appears that even the most ...
1
vote
1answer
300 views

Buying property in India: paying loan/mortgage

I am on a H1B visa in USA and thinking about buying property in India. What is the best way to make payments from USA bank ac to pay loan/mortgage in India? Can I get tax relief for loan/mortgage ...
0
votes
1answer
174 views

Selling property in India and gettting back money to USA

I am on H1b visa in USA and thinking about buying property in India. Suppose I alraedy bought some property in India, now in future if i sell the property in India, then how can i get that money back ...
2
votes
1answer
61 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. ...
8
votes
4answers
565 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
91 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 ...
9
votes
4answers
1k views

Who pays the property tax on a home for the year of sale?

I sold a condo on the 2nd of January this year, and I was a bit taken aback when I got a property tax assessment for that property from the county for this year (this was not a bill just an assessment ...
1
vote
2answers
128 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 ...
2
votes
1answer
70 views

Traditional IRA - First Home Purchase - Does the $10K limit apply to each spouse or the entire household?

One can withdraw up to $10K for first time home buyer. My question is if each spouse can make the withdraw or is 10K by purchase?
1
vote
2answers
121 views

Simple Property Management Software

I am a property manager looking over 8 units in a boarding house. I was wondering if anyone knew of any free simple property management software or apps. All I really need to do is keep track of who ...
5
votes
4answers
285 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 ...
1
vote
1answer
608 views

HUD-1 limit on realtor commission rebate?

My wife and I are buying a new house and we are using the builder's mortgage company. Assume our HUD-1 breaks out like this (numbers manufactured to hide real transaction amount): Line 103 - ...
11
votes
2answers
3k 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 ...
3
votes
1answer
53 views

What will be the capital gains tax after we sell a rental home?

I'm in desperate need of some help. I've been asking different tax consultants about this situation, and I keep receiving different answers. My parents purchase a Tudor style home about 30 years ago ...
1
vote
1answer
125 views

Need exit strategy for aging mother who owns aging rental properties, please

I'm terrified for my 71-year-old mother's immediate future. She owns 12 residential rentals. We desperately need an exit strategy but she owes as much as or more than market value, and cannot afford ...
4
votes
3answers
285 views

Can future rental income be applied to present debt-to-income ratio when applying for second mortgage?

If someone wants to purchase a second home as a source of rental income (and potential investment), would (or could) a lender apply the estimated future income from rent on to the present ...
5
votes
3answers
557 views

Settling house with husband during divorce. Which of these two options makes the most sense?

This is the scenario: Our house is worth about $250,000 (we think). We owe about $200,000, so we have $50,000 equity. We are divorcing amicably and both want a solution that is fair and makes sense. ...
8
votes
1answer
279 views

Insurance for a house which is not homeowners insurance?

My wife and I moved last summer, and our former home is still on the market. We were recently informed by our homeowners insurance company that because the house is no longer owner occupied, they will ...
3
votes
1answer
79 views

How can I find out about right-of-way or easements when purchasing Land with powerlines?

I found a nice piece of land that I wish to purchase. I've never purchased a house or land before and I'm hoping for some advice. The property has quite a bit of acreage, but it appears that on the ...
2
votes
1answer
50 views

Determining CMHC insurance premium

Is the calculation based on purchase price with HST or without HST? For example, the property is being purchased from the builder and the stated purchase price includes HST. If the posted price is ...
11
votes
6answers
1k views

Buying a home with down payment from family as a “loan”

First time here, so please be gentle! I am thinking of buying a home, and have enough steady income to comfortably afford the monthly payment on the loan. However, I will need help with the down ...
0
votes
1answer
48 views

Is there an equivalent of writing calls on personal real estate holdings

Where possible I like the ability to write calls on the underlying asset for the residual income in a low-medium volatility environment Is there the equivalent of doing this with real estate? I am ...