All Forum Posts by: Tony Ton

Hi,

I am looking into developing a small 10 unit condominium in Downtown Houston. My question is where do i go to apply for this status and the requirement I need to follow?

I lean towards selling since you have been there 2 years and it wont be taxed. Not sure on your market but if you feel that you can rent it out to find a better position to sell over the next 3 years go for it.

I might have a similar decision for my primary resident. Its in a sellers market and desirable area. My thinking, I could get 3 rentals with a higher cash flow. Best of all I wont have any attachments because we will be in a new home :)

About myself...

I have a beautiful wife with 3 beautiful kids and have move to Houston 10 years ago. We are both employed full-time and looking to work full-time. Over the years we use 401k to shelter taxable income from our merit and promotion increase. We are at a point where we need to find other tax benefits. Had we know how much better Real Estate is at achieving this we would have never used 401k. As of now its dead capital that we cant access without TAX penalties so we are seeking as many write off through REI to offset this.

Hi,

I am working on a deal with a to rescue a homeowner from foreclosure. This homeowner dont have good credit and would make a lousy tenant. There is equity in the home and I offer to to pay off the bank note and use the equity as a deposit in a 2 year leaseback agreement. If I disclose this deposit as a seller contribution will I be taxed on it? I also looking at an option to have seller carry a note under that will be in a secure deposit on the lease. This second option complicate things with lawyers and unforeseen tax and accounting problems. Any advice or experience as it relate to tax or legal difficulties?

Hi,

I am a new to REI in the Houston Area and looking for rental and sometime flip properties. I have have cash, business line of credit and hardmoney as well as investor for REI. I looking for wholesaler in the Houston area that can bring me fresh deals.