All Forum Posts by: Darren Looker

@Jim Cummings

Thanks for posting this. I live in Dallas and will consider buying some foreclosures next year. I’ve never bought one before.

@Jonathan Paul Shortt We used Scott Senner for ours as well. He's great. We have a 4/3 and are using a management company so far and it's been very hands off. No issues. If you are looking for management at less than 30%, PM me.

Your cabin is beautiful! Who did your photography?

We are looking at purchasing an STR in Pagosa. It's a great market in an uptrend with lots of vacationers and also telecommuters from Denver. If you need a realtor there, let me know. I have a good one that knows the local market very well.

@Chris Webb

Welcome to Texas Chris.

Thanks for all the replies. It looks like the amount is not large. I'll discuss with my parents and a tax advisor.

Thanks Eamonn. I'll have to look up the wash rule.
I believe my dad's aunt did something like this for him.

Thanks Carl. Do they need to be SDIRA or does it matter?

My parents have some mutual funds that they want to give to my 3 kids while the markets are down. All 3 children are minors. 
What is the best way to minimize taxes in this situation? Transfer or sell and buy back into the market? How are taxes calculated on dividends as the funds grow especially if I am the custodian and at a higher tax bracket than the kids?

I have an extra ticket to Rat Race 2 Retirement in Dallas this weekend. If anyone is interested in it, PM me.

@Meng Khong tong

It’s not easy to hit 1% rule in Dallas and it’s not a deal breaker, just a quick rule of thumb to weed out properties.

@Richie Thomas gave some very sound advice for further analysis.

Since the house is new, your capex should be lower, but make sure it cash flows and have your inspector go through it very thoroughly. You don’t want to get a property with shoddy workmanship that shows up in a year or 2 and wipes out all your gains. If you see red flags when walking the property, then there are likely other issues you can’t see.