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Tax, SDIRAs & Cost Segregation

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Brad Spuhler
Pro Member
  • Rental Property Investor
  • PA & NJ
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37
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Transfer of ownership -- Help!

Brad Spuhler
Pro Member
  • Rental Property Investor
  • PA & NJ
Posted Aug 15 2019, 18:31

Hi BP community! 

I'm new to real estate investing and could use some help.   I'm working on rehabbing a duplex that was once my grandmother's house (deceased) so that I can rent it out.  It's been sitting vacant for a number of years, long story.  The house is in my father's name since my grandmother's death and he is willing to transfer it to me since I will be financing the rehab and managing the property going forward.   There is no mortgage on the house so I plan to fix it up, get it rented, get it appraised and take out a loan on the house to fund future deals.  Since I'm planning to take out a loan, I would need to technically own the house.   I've read up on gifting and other strategies but it gets complicated and there are many tax implications.  

Anyone have any experience with a similar situation or could point me in the direction for further research?


Thanks so much for the help!

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