I am going to be selling my primarily home. I bought it for 275, 000 and they are saying it it worth $616,000 - $876,000 nowt
This is ridiculous - It is still an ugly pig. But that is the Bay area.
I will not rent in California - I vote blue - but sheesh there are no protections for landlords in this state! My friend is always late - and she is tolerated because she pays. takion I have some very nice neighbors that are interested, I will want them to qualify for a loan, but I have thought about taking a second back so I get a stream of income as well as the payment. What says you? What if they default on their payments.
I am going to be selling my primarily home. I bought it for 275, 000 and they are saying it it worth $616,000 - $876,000 nowt
This is ridiculous - It is still an ugly pig. But that is the Bay area.
I will not rent in California - I vote blue - but sheesh there are no protections for landlords in this state! My friend is always late - and she is tolerated because she pays. takion I have some very nice neighbors that are interested, I will want them to qualify for a loan, but I have thought about taking a second back so I get a stream of income as well as the payment. What says you? What if they default on their payments.
Hey Rose,
Taking a second back is similar to you renting based on the way you feel about California. Plus with loans, it’s better to be in the first position so they have to pay you first.
So I would say just sell traditional or get them to do a first position loan with you.
The are other options too if you need to avoid paying capital gains tax.