All Forum Posts by: Mary Chen

@Scott Wolf what’s an appropriate time?

Can I convert a 1031 property back into a property I can live immediately after I complete the 1031 transaction?

I recently came upon a blog about tax sale properties and it seems like a really good way to find some hidden diamonds. I understand that the bidder is fully responsible for doing all the research on a property that is up for auction. So I was wondering if anyone has tips on “must have prepared before the bid begins” and suggested resources that people could use to help newbies be better equipped for these types of opportunities?

Do we both have to buy it as an investment property or can I treat my loan like a second home?

I'm just not sure what's the best way to do this. So looking for any clever strategies. My parents have an investment home in a different state that they're just been looking to get out of because it's no longer easy to travel. They've been thinking about buying a home in our neighborhood but the housing pricing these days indicate that selling value (e.g. $600k) is just not enough to cover the cost of the new home ($900k) and they no longer can qualify for loan. Is it possible for me (the child) to put my name on the loan? And to add complexity, I also have a home (that I bought 5 years ago). I know I can afford the second loan, but It would be nice if we could eventually make this new home a home I could live with my parents because it is larger but just not sure if it's even possible. Any thoughts?

I'm just not sure what's the best way to do this. So looking for any clever strategies. My parents have an investment home in a different state that they're just been looking to get out of because it's no longer easy to travel. They've been thinking about buying a home in our neighborhood but the housing pricing these days indicate that selling value (e.g. $600k) is just not enough to cover the cost of the new home ($900k) and they no longer can qualify for loan. Is it possible for me (the child) to put my name on the loan? And to add complexity, I also have a home (that I bought 5 years ago). I know I can afford the second loan, but It would be nice if we could eventually make this new home a home I could live with my parents because it is larger but just not sure if it's even possible. Any thoughts?