All Forum Posts by: Andrew K.

You run the risk of the bank calling the loan due.  It's called the "Due On Sale" clause.

LLC. Yes. What I assume makes my idea fishy is the note would basically require no payment. It's sole purpose would be to encumber the property for 100% of the value.

Also consider if you have SE income you may be able to push alot of it into a solo 401k.

There is a thread in another BP forum debating the merits of keeping your RE mortgaged in order to make the asset seizure less desirable in the event of a lawsuit.  

Assuming that is a strategy you want to pursue, Would it be possible to record a note on your free and clear property for 100% of the market value that has another entity you control as the owner of the note?  In this scenario you are not paying on the note and no money was actually loaned.  It's existence is merely to encumber your RE to protect it from seizure.  Am I suggesting something totally illegal?

I'm looking at Frankford for some buy and hold investments.  The numbers seem to work but I'm not familiar with the area.

Anything I should know about the area near the Arrott Transportation Center?

Thanks

I'm not looking for a full blown title search.

Check out http://propertyrecords.montcopa.org to see what I'm referring to.  You can get at least the names of of grantor/grantee, sales price and date going back as far as the digital records provides.  Granted data is frequently missing and incomplete.  The parcel explorer is very handy if you don't actually have an address for a parcel.  

Thanks David.  Some of the information I'm looking for seems be there.  Would be nice if there was more historical sales data instead of just the last sale.  I saw the "Parcel Explorer" linked from one of the websites.  That's a feature of Montcos/Bucks system I like but PHL seems to want to charge for it..

Does Philadelphia County provide free access to real estate sales records? 

Similar to what Montgomery County provides: http://propertyrecords.montcopa.org

I've only been able to find pay for access from the PHL recorder of deeds.

If you really wanted to show a piece of real estate as heavily leveraged could you just write a note between the RE and another entity you control for 100%+ of the value.  Never pay on it but it's first position?  

It's unlikely you will mitigate W-2 earnings as passive income (rental activity) won't reduce your w-2 income tax liability.

As for replacing the AC.  If you are replacing a broken AC I suppose it would be classified as as a repair rather than a capital improvement.  It's deductible in the current tax year but I'm going to guess your tax deduction from the AC replacement will make your passive income net negative for the 2016 tax year and you'll carry forward the loss to next year.