All Forum Posts by: Sarah Jones

Neal McSpadden Got it... So if I want to just sell it and get out of the deal.. I just want to make money on the $35k option consideration... will the tenant buyer see the price I bought it at if I use the assignment contract? Also I need the purchase agreement signed for the option so do I get the assignment contract + the purcahse agreement to be safe?

I'm trying to get a property for lease option. I will do two separate agreement, one that is a lease and one that is a purchase agreement.

Just as an example, if the seller is selling me a house that is worth $600k for $500k. I reassign the lease option to my tenant buyer at and get $35k option consideration from my tenant buyer, that is my fee...

1) how can I reassign it if i want to sell it to him at $600k because he will not have the rest until closing which is 3 years later...

2) If i reassign it... I am out of the picture right? Also if I reassign it I bought it for $500 and want to sell for $600k, will my tenant buyer know how much I bought it for? When I reassign it do I make a new lease and a new purchase and sale agreement with the tenant buyer and the seller? Do I have to get the seller to sign the second agreement again? How do I get this done correctly..

I want to invest in apartments... not really offices or warehouse... i have about 70k i can use if i really need to.. any smart way to invest in apartment with this much down.. im in los angeles

So far I have been dealing with a lot of residential stuff... I would like to start getting into commercial as well..

Is it possible in this current market to purchase commercial real estate with $0 down... maybe creative financing? How hard is it? Can I buy a 50 unit apartment building with $0 down or $5k?

Any books you would recommend for something that works in this economy... $0 or little down to buy large commercial properties such as apartments..

so how exactly does it work if she is holding a note... she selling the house but i am not paying her all at once... so on her tax return does she put she sold the house for 300k? or the $2k per month i pay her?

funny

I talked to the closing agent .. and she said it would not be a QCD in california.. that is usually used to remove people .. she said she after the loan closes.. and the house is purchased we should wait a month.. after that we should do a grant deed.... what do you guys think?

@Steven

I have a few deals going on. This one is free and clear.. i missunderstood before about subject to. This is a free and clear property where she will be holding the note.

If it is free and clear, and the property needs a lot of work... i would like the deal if there is no interest... is that illegal? the forum says it's not...

Your right about capital gain. There isn't any since it is her primary residence.. is there any other tax she needs to pay if she gains from this purchase. She bought it for say 100k and wants to sell it for say 250 .. its her primary residence for the pass 20 years.. so there is probably no capital gains tax.. is there any other tax she needs to worry about besides the closing fees for the tax?

Also i have been going through the forum but can't seem to find the answer.. if i go to her house and she agrees to sell it.. do i just need a standard california purchase agreement? How do i put it that she is offering financing with no interest charged?