All Forum Posts by: Grace Porritt

I have an Investment Property that I previously did a 1031 exchange on with sizeable gains.  My income recapture (first to pay back), is approximately $45,000.  I have a potential buyer (friend), that will work with me on a Wrap Around Sale.  My goal is to spread out these gains and have a balloon down the road in 5 Years, when my capital gains tax will be lower because of lower income.  Here is the bad news:  I currently have a commercial loan on the property for $137,000  (due in 2 years), 4.3% Interest.  My goal is to start taking out some cash, I am 62 and want to start enjoying my gains!!!

My idea is to refinance and take out new loan for $200,000 (no taxes on the cash out).  Sale price $280,000.  This will give me more flexibility with the structure of the new loan for the Buyer. I will need to find a company that does not have a "pay at sale" clause.  I will hold a second for the balance.  

Does anyone know a mortgage company that is favorable to investors?  What am I missing?  Can anyone suggest a financial planner in colorado to assist with a deal like this?

I have a greatly appreciated property that I would like to sell as an installment sale.  Since I know the buyer, potentially I can lower the sales price and get some of the cash in a gentlemen's agreement on the side.  I have a lot of deferred appreciation ($80,000) that will be taxed as ordinary income.  I am getting close to retirement so the installment sale is attractive.  Anything that folks can share on the nuances of a deal like this would be appreciated.

Can I sell a property to one of my children in a 1031 exchange as long as they pay a fair market value?  Can I hold a note in this exchange?

I have a 2nd Mortgage that has amortized out after 10 years. My payment increased $1200 per month. I need to find a lender that will accept just 2017 tax return .... not average 2016 and 2017.  Loan is for 160,000. Great credit. Plenty of equity!  Any suggestion??

Thanks Linda!

If I get a license, a realtor would not trust that I would not be trying to gain clients.  It would defeat the purpose of my services offered.

I actually had a great response from realtor already.....especially independents!

Hey Brady,

I have been doing "room" and "house" rentals for 15 plus years.  To be honest, I think that you would be better off skipping AirBNB and just finding a longer term renter that needs a furnished room.  If you fix up the room and provide towels and bedding, you could generate more than you are currently.  Put a 30-day minimum on the rental (or whatever works for you).   Will they have a private bath?  What is the condition of your common rooms?  I would advertise this on Zillow and Craigslist.  You should be able to get $1500/month and less headaches.  

Are you saying that the Realtor must be present?

Does anyone know if a real estate license is required to host an open house for a Realtor?  Are there any rules for accepting compensation?  I am considering starting a business to assist realtors with their open houses....many realtors hate to do this.  I have lots of sales and marketing experience.

For any of you that are realtors....

What would you pay for a service like this?  
Would you pay additional for a "close" that resulted from this service? (Is that allowed?)
Would you pay extra for leads that turned in to clients? (Is this allowed)
What makes a GREAT open house in your opinion?