All Forum Posts by: Account Closed

Also, can my parents do a 10/31 tax exchange and try to get another home and try to avoid some depreciation tax?

Appreciate your input, thank you. Any input as from an IRS point of view?

Hello. I am a first-time home buyer and might have the opportunity to purchase a small, 2 bed, 2 bath 1100 sq ft home from my parents using seller financing. The home is paid in full, and they rent it out for $1400 a month. They have consistently had nothing but terrible tenants, and the home was built in 1985, so it still needs some updating. It's valued at $145,000. I'm looking for advice going forward. Any thoughts or concerns? I would obviously consult a real estate attorney to help write up the paperwork. Thank you guys. I understand these deals aren't very frequent nowadays.

Hey everyone, just completed my first webinar and wanted to submit a post saying hello. I'm 24, work full-time, and have my heart set on real-estate investing. I'm stepping up to the plate and going to evaluate at least one property a day. My parents and grandparents are both landlords and have been in the real estate business for a long time, and have been trying to gain as much knowledge as possible. How hot the market is down here is unreal!