All Forum Posts by: Tomas A.

I’m in the same boat! I’d love to hear about a persons experience. Thank you 

Great thank you @Jaysen Medhurst and @Sarah Brown for your feedback.  I had not thought of paying for the seller to meet with an accountant, that will be the next step I’ll pursue when I follow-up with the seller.  The house is documented as her second home (it was inherited) so I think that will be reported differently for taxes.  I’m sure an accountant can provide more clarity for the seller and hopefully we can work something out.

I think it’s a great long term play for me and it would probably be worth paying for her consultation with an accountant. Once again thank you both for providing me guidance on next steps!  Cheers

Hello,

I am currently working with a seller who owns her home free and clear.  She wants to sell her house but she is nervous that once she sells the home the income will be reported to social security and the income she receives from SSI will be significantly reduced or taken away.  I proposed the idea of selling the house to me via owner finance, and she seemed interested, so long as it did not impact her SSI benefits.  Does anybody know if a sale that is done via owner finance gets reported in such a manner that it might impact social security income?  I want to pursue this deal but only if it works for both of us and so long as I can give her reputable information.  If folks don't have a solid answer to this question, can you please let me know who I should reach out to for further information.

Thanks everybody in advance!  I have been scouring the internet for an answer and I finally thought to pose this question on BP.  This is my first post and I am excited to hear what feedback I may receive.  For reference the home is located in California.

Hello @Account Closed mentioned he helped me purchase a duplex here in Grand Rapids.  It’s always good to speak with multiple realtors.  Paul was the first realtor I spoke with and after speaking with various other realtors I decided to stick with Paul.  His insight as a realtor who also actively invests was invaluable for my purposes.  I’m not trying to get too “selly” on this forum, lets connect individually and we can talk about my experience investing in GR coming from California.  Good luck on your ventures!!

Hi Mike, are the deals you look for mainly for buy and hold or flips?