All Forum Posts by: Richard Boyd

Hey ladies and gents,

I would like to know if anyone is familiar with the subject area and how is renting/living situation?

Is it an improving neighborhood or is it going downhill fast?

Are there any cons to buying rentals here?

If it doesn't show, just Facebook search "Buffalo Real Estate Investors". There are multiple meet-ups going on every month.

https://www.facebook.com/groups/1633399453607557/

This group has a ton of info, check us out!

Hi everyone!

Just wondering (besides the obvious one by Brandon) are there any books that go into great detail on creative strategies for financing? 

For example, my boss couldn't buy a home for a few reasons. His agent found him a home and made a deal with the seller. The seller agreed to add the buyer onto the account, then the seller refinanced the home and removed his name from the account leaving only the buyer's name. Btw, is that legal in NY?  

Are these tricks of the trade subject to your location? If not, why aren't people talking about them? If they are talking, where can I look?

Ahh, yes it is a rental. Thank you @Wayne Brooks

Hi guys,

I read all the time about putting your home into your tax write offs over 27.5 years, just a couple of questions...

How long from when I buy it must it begin to be filled into my taxes? If there is even a limit.

Also, since my home value fluctuates so much, for example, 800k one year to 1.5 mil over the next few years... How is the value placed on the tax? Surely it's not the worth the value every year, right? Since it would be more every year, presumably... for example, you wouldn’t divide 800k into 27.5 one year and 1.5 mil into 26.5 the next year, correct? I’m just a little confused about this.

I WILL find a way around this!

Well I may have found an agent that will help me find an owner financed place. We're discussing it now.

Thank you for asking your buddy about that!

@Mark Elliott

Thanks! The only issue with this is that I won't be there until I will need a home. I may not have any time to look around.

@Charles Kao Thanks for the advice! I'll be sure to be prepared.

@Walter Key

I made the lease for 5 years and there's an option to buy at the end, but the renter would've already paid the total price. I sold to distant family so I didn't include interest, just a hard price. This is a small home and I'm just using the extra cash to help me through college.