All Forum Posts by: An Nguyen
An Nguyen has started 3 posts and replied 10 times.
Post: Strategy for Sale of Property
- San Diego, CA
- Posts 10
- Votes 0
Quote from @Alan Lacey:
just deed them on to title they can payoff your loan and if buying cash can get remaking fund to you however really maybe even structure as a gift for that matter, and then you can do a quit claim and remove yourself. Check with a title company for details. Not something anyone would consider doing unless family really,but suspect that would work.
Post: Strategy for Sale of Property
- San Diego, CA
- Posts 10
- Votes 0
Quote from @Ben Scott:
From what I understand, renting to them would be the best and easiest course of action. Really no benefit to either party to generate a sale, based on the info provided. Good luck! Thanks for sharing. Where is the home in OKC?
Post: Strategy for Sale of Property
- San Diego, CA
- Posts 10
- Votes 0
They are older and prefer to not owe anything since they're selling their current primary residence, which they also own outright. My initial thought was to rent to them as well.
Post: Strategy for Sale of Property
- San Diego, CA
- Posts 10
- Votes 0
Quote from @Landon Whitt:
Look i have never met someone who vacations in Oklahoma City, ive been here 7 years. Lets say “second home” ;)
Haha yeah, second home for when we visit in-laws in OKC!
Post: Strategy for Sale of Property
- San Diego, CA
- Posts 10
- Votes 0
I purchased the property for $250k with 10% down and current balance is ~$228k. Would the most cost effective path be a FSBO? Are there any tax concerns if we do it this way?
Post: Strategy for Sale of Property
- San Diego, CA
- Posts 10
- Votes 0
Hello everyone! I purchased a home in Oklahoma City as a vacation home in Apr 2022 and am currently planning to sell to my in-laws who are looking to get out of their current home due to unforeseen circumstances. What is the best method to sell this to them to avoid tax implications and fees/commission?
They have enough to pay the outstanding mortgage balance but not enough to cover my down payment (10%) and any appreciation. If we proceed with them paying just what's owed right now, will it be considered as sold as a loss? Any advice and information you can give me would be much appreciated!
@Bruce Woodruff that seems to be the consensus from what I've seen so I have requests out to a couple of photographers in the area. Thank you for your input!
Hi everyone! I'm starting to self manage my STR in Big Bear Lake, CA and need to have photos taken. I plan to use Airbnb as my primary platform initially but see that the site shows photos can be taken with just your phone. Is this a good idea or should I invest in hiring a photographer? Thank you in advance for any inputs you all have!
Post: Converting 2nd home to rental property
- San Diego, CA
- Posts 10
- Votes 0
Originally posted by @Grace Wang:
@An Nguyen Hey An. I would confirm with your lender on this, but as long as you live in the second home for 14 days, you could rent out the other days. Where is your second home located?
Hi Grace! Thank you for the response. My second property is in Oklahoma City.
Post: Converting 2nd home to rental property
- San Diego, CA
- Posts 10
- Votes 0
Hi everyone! I purchased a second home 3 months out of state to be able to visit my parents more. However, we are currently thinking it's better to move them to California to live with me. What are my options if I don't want to sell this property? Can I turn this into an investment property although it was purchased as a second home?