17 February 2020 | 92 replies
Il leave them a Binnys gift card saying thanks for being flexible.
11 October 2020 | 3 replies
Amortized over 30YRs | Instant Equity | Max Cash Flow/Mortgage Fee Sample Scenario4 unit property, purchase price $600,000, Rents per unit $2,500, $120,000 rehab, credit 720, ARV $760,000|6% allowable seller credit | all or a portion of Down Payment can be "gift funds"Total Cost (est.): $720,000Down Payment: $25,200Loan Amount: $706,959Rate: 2.875%P&I: $2,933.12/mo.Property Taxes (2.5%): $1,250/mo.Mortgage Insurance: $500.76Home Insurance: $250/mo.4 units (renting 3 units): $7,500Carrying Cost: $8,367.76Owner's portion of mtg. payment: $867.76Instant Equity (est.): $40,000** I realize there are other costs to consider i.e. vacancy percentage, utilities, etc., but wanted to give an example to foster conversation.
16 April 2018 | 14 replies
To fill all the gift baskets you can give out with the money you save from the new energy efficient windows!
24 April 2017 | 3 replies
We didn’t want to trigger problems with the home mortgage when the lot was sold.So we gifted our relatives the down payment for the house, after wrapping some of the closing costs into the loan with seller concessions and ahigher sales price of 155K.
8 January 2019 | 2 replies
If only one person provides the capital but both have membership interests, you will run into gift tax issues.You also want to look at whether a pass-through entity helps your bottom line and your taxes.
15 June 2016 | 33 replies
Yes you eventually have to take chance on them, but when they do well, tell them, buy them a $25 gift card to starbucks, take them to lunch.
1 June 2018 | 12 replies
Down payment gifts are allowed by fha, va and conventional loans.