Updated over 4 years ago on . Most recent reply
Apartment purchase take down!
need your help! 20 unit apartment complex in rural Tn people took a loan out on in 2013 for 885k. I’m not sure of today’s balance but should be roughly in the 6-700k range. They are wanting 1.5 mil for the properties but they don’t want to pay capital gains tax so that denies a straight up sell. They don’t live on the property so that outs the 2 year deal. What’s some creative ways to finance this where they don’t pay capital gains tax and or could split it up?
Ways I’ve thought of is assume their debt and allow them to take a second out in their name to take the remaining balance.
Rent to own? Even though the still owe on the property?