All Forum Posts by: Eric Yu

 Which market are you referring to, Karen? Redding or Bend Oregon? This market is definitely brutal; low supply + high interest rates is kind of a worst case scenario for buyers. Prices are staying super high & now payments are off the charts too. 

Hi all!

Have a question for y'all tax professionals. I have a property that's currently in my name with a hard money loan. I want to add my partner onto the title & have the loan refinanced in her name. I was told I would need to pay an excise tax on 1/2 of the loan amount. 

I've been reading about gifts: https://apps.leg.wa.gov/wac/de... & see that if you don't give any consideration, the excise tax could be exempted. 

My question is this:

- If I add her into the title, and she becomes the sole person on the loan, but I continue to make all of the payments (out of my bank account) & she doesn't make any payments toward the house, would she be exempted from excise tax?

Thanks!

Ayooo! April meetup coming at you!

There will be free food and free drinks! Perfect place to network with new real estate investors, house hackers, and folks who are breaking into the short term rental space!

Agenda for the evening:
2:30-3:00 PM: Grab some food & mingle
3:00-4:30 PM: Play Golf -- Eating, drinking, and networking! And remember, don't forget to follow up after you go home!

You don't need to have any experience with house hacking or real estate investing to come. You can simply just come to have a good time and learn from others. We hope to see you there!

Hey! Happy to help - what kinds of questions do you have?

If your serious about including investing into your business, you should make it down to the Seattle meetups. Some of the heaviest hitters in real estate investing are in Seattle; you're going to get a lot of value coming to them. I host one myself every 3rd Thursday!

Thanks for sharing the data here! I have a few investors looking in Leavenworth, I'll have them look into Wenatchee as well :) If you have any interesting properties / opportunities, feel free to send them my way!

@Shweta Bharti, just wanted to call out +1 to the exclusive agency agreement side of things. Even though I've been burned a few times on the agent side of things, I always like to provide value first. Usually, people see the value I add into the transaction with my expertise & then they choose to work with me. 
I've never liked the binding nature of exclusive agency agreements. 

 Welcome to BP @Abi Horton! There's a lot of different factors when considering a market to enter (especially for a house hack), because you'll likely want to factor in your own living conditions as well. 

I've house hacked in California, but in terms of affordability, I think the Midwest is a great place to do it. Like others have mentioned, Cincinnati & Cleveland work out well; I also like markets in Michigan like Muskegon. 

Love it! Awesome panel; I'd love to be a part of one in the future as well. Happy to talk more about house hacking & real estate investing as well. 

 Hey Austin! Welcome to BiggerPockets. What are you the specific questions you have? Feel free to ask them here & the entire community is here to help

Nice - welcome to the investing journey! 

The purchasing process will be similar to the standard buy process with an agent, but some forms may be different. It would be worthwhile joining some local real estate investor groups in North Carolina to get their insights too (every state has slight differences in the purchase process). 

Are you doing a Hard Money Loan? Or conventionally financing this? At the end of the day, the title accuracies are a liability to you, so you should always review those in depth. The title company will pull the reports for you to review. Do you have any other specific questions here?