Comments on: What is the best way to purchase two homes and both parties benefit? http://www.soswrap.org/homes/what-is-the-best-way-to-purchase-two-homes-and-both-parties-benefit Sun, 05 Feb 2012 12:23:59 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: kemperk http://www.soswrap.org/homes/what-is-the-best-way-to-purchase-two-homes-and-both-parties-benefit/comment-page-1#comment-2207 kemperk Mon, 01 Feb 2010 02:14:59 +0000 http://www.soswrap.org/homes/what-is-the-best-way-to-purchase-two-homes-and-both-parties-benefit#comment-2207 the houses can be gifted to you so that taxes are not involved. or, a lease purchase can be arranged so that you wind up with an immediate equitable interest. YOU did not say what you wanted to do with the two. YOU will need to keep both insured if you are smart and have two property tax bills. Also, the family can put both into LLCs [limited liability companies] and over time keep on issueing you more shares in the LLC. Lots more considerations are available. Also, what I would do, is have the parents take out a loan against each property, at maximum value and have you and your husband pay off those mortgages over time.<br><b>References : </b><br>RE broker the houses can be gifted to you
so that taxes are not involved.

or, a lease purchase can be arranged so that you wind up with an immediate
equitable interest.

YOU did not say what you wanted to do with the two.

YOU will need to keep both insured
if you are smart and have two
property tax bills.

Also, the family can put both into LLCs [limited liability companies]
and over time keep on issueing
you more shares in the LLC.

Lots more considerations are available.

Also, what I would do, is have the
parents take out a loan against
each property, at maximum value
and have you and your husband
pay off those mortgages over time.
References :
RE broker

]]> By: Jay K http://www.soswrap.org/homes/what-is-the-best-way-to-purchase-two-homes-and-both-parties-benefit/comment-page-1#comment-2206 Jay K Mon, 01 Feb 2010 01:40:59 +0000 http://www.soswrap.org/homes/what-is-the-best-way-to-purchase-two-homes-and-both-parties-benefit#comment-2206 You've come to the right place for personal financial advice. The best way to purchase both homes so both parties benefit is buy them below market value one at a time as your mother-in-law thinks. They are being offered below market value. Good for you. Your listening to your mother-in-law's advice. Good for her and family relations. Besides wouldn't it help your husband's parents to be able to claim the tax credit on two different occasions too. My advice is to don't be so greedy.<br><b>References : </b><br> You’ve come to the right place for personal financial advice.
The best way to purchase both homes so both parties
benefit is buy them below market value one at a time as your
mother-in-law thinks. They are being offered below market
value. Good for you. Your listening to your mother-in-law’s
advice. Good for her and family relations. Besides wouldn’t
it help your husband’s parents to be able to claim the tax
credit on two different occasions too. My advice is to don’t be so greedy.
References :

]]> By: Crocodilian http://www.soswrap.org/homes/what-is-the-best-way-to-purchase-two-homes-and-both-parties-benefit/comment-page-1#comment-2205 Crocodilian Mon, 01 Feb 2010 00:54:59 +0000 http://www.soswrap.org/homes/what-is-the-best-way-to-purchase-two-homes-and-both-parties-benefit#comment-2205 Very complex situation here. You need to do some spreadsheet work. How much money are you guys going to earn, how much will these cost, how much will rent bring in. There are many ways that this could be structured-- what's right for you depends on the specifics of the situation. I'd get all the numbers together and sit down with an attorney or an accountant who specializes in real estate transactions. Too many variables here for a "cookie cutter" answer.<br><b>References : </b><br> Very complex situation here. You need to do some spreadsheet work. How much money are you guys going to earn, how much will these cost, how much will rent bring in.

There are many ways that this could be structured– what’s right for you depends on the specifics of the situation. I’d get all the numbers together and sit down with an attorney or an accountant who specializes in real estate transactions.

Too many variables here for a "cookie cutter" answer.
References :

]]> By: Dr. Deth http://www.soswrap.org/homes/what-is-the-best-way-to-purchase-two-homes-and-both-parties-benefit/comment-page-1#comment-2204 Dr. Deth Mon, 01 Feb 2010 00:40:59 +0000 http://www.soswrap.org/homes/what-is-the-best-way-to-purchase-two-homes-and-both-parties-benefit#comment-2204 unless you have a tenant in the 2nd one already, it might be tough to get approved for 2 mortgages at once. If they are selling them to you below market - the reduction basically is your down payment or have them make it official and gift the down payment to you (maximum 24,000 - no gift tax required) - must be in writing<br><b>References : </b><br> unless you have a tenant in the 2nd one already, it might be tough to get approved for 2 mortgages at once. If they are selling them to you below market – the reduction basically is your down payment or have them make it official and gift the down payment to you (maximum 24,000 – no gift tax required) – must be in writing
References :

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