Deed Transfer Question
I am in the process of having some property transferred in my name from my father. I will be building on the property and then reselling to my father in about a year or so. I am trying to figure out what the best way to Deed the property over to me is? Should I do a grant or warranty deed? What would be the best tax advantage? The property is located in Texas.
Thanks,
RC
get copies of the lease, tenant application, deposit receipts, payment history and tax returns for this property.
Jim
Unless the lease is month to month and the tenant will be out by close of escrow, then I would expect this to be at or below comps for similar homes. If the tenant has a fixed lease that does not end for some time to come, then I would definately expect some kind of break.
Property Aquisition Specialist, Property Miner, R. E. Loocator, Investor, etc.
What price range are you interested in? We may be able to steer you in the right direction or be a local customer for you.
[addsig]
If It means anything, there is a hardmoney lender in ATL that also prefers to be called and "investment group".
Hope this helps somewhat.null
You did not say how much cash you had to start. There are places (I know of none in CA) where you can get properties between $30K and $35K that will likely provide cash flow with little down payment.
You might try getting a partner who has more cash or try bird dogging for awhile. You might be able to start in another state, but you would eat up half of your resources on your first visit.
Yea, seems like I am going to have to work some deal outside the Real Estate arena for a while. I can see how it could work, but just setting up the insulation would cost way more money than I have now.
Oh well the joys of being young. Looks like I will just need to come up with some kind of business to buy real estate for me. Now to get my thinking cap on and make that happen...but honestly 1/10 chance of success would probably still be better than most other forms of investment at my level.
You could start looking locally for rehab opportunities or financially distreessed situations and find a partner with money who will split profits with you. You could do this until you get enough to invest. If you want to be a buy and hold investor, you will almost certainly need to look outside the Bay Area and likely outside CA
Sandwich leases. No cash, no credit, three potential revenue opportunities during the option period..