QUOTE (invst4profit @ Jul 17 2008, 05:43 AM) If a parent were to add a child on to the existing deed would that have any tax implications. The child, at time of death of the parent, would then be sole owner and no taxes would be due until sale. Assuming a child could be added to the deed they...

QUOTE (albainstar @ Jul 15 2008, 02:53 PM) disposition is deamed to have happened any time a property changes hands So you would have to pay the tax, and it doesnt matter if they give it to you now or if they will it to you the tax occurs when the tranfer happens. The tax will be owed on the...

I created a post a few months ago about the lot my parents have gifted me, a beautiful half acre ocean view lot in Parksville, BC. As my parents are still alive, I am told that they would have to pay capital gains on the lot if they sign it over to me before they die. Seems a pity to give away...

QUOTE (thomasbeyer2000 @ Mar 31 2008, 06:12 PM) It also assumes you have done your homework regarding value of oceanfront homes .. 800K to $1.2M sounds quite reasonable for oceanFRONT ! It`s not quite oceanFRONT, but oceanVIEW. The lot is just across the street from the oceanFRONT houses...

A buddy of mine just sent me an email, his suggestions below: "Just wanted to pass on to you what I have discovered for your reference. First I wanted to say I read those responses , although I think they are interesting , I think the best strategy would be not to sell your property , as it...

QUOTE (dwb @ Mar 30 2008, 07:33 AM) Situations like the one you are in where you are sitting on a pile of non-cashflowing equity are part of the reason why places like Saskatoon boomed, and saw like 50% returns in one year: many investors took/take the equity out of high equity homes in BC and...

QUOTE (dwb @ Mar 29 2008, 11:26 AM) In this case, you would be able to get a line of credit for $150,000 to use as your downpayments on rental properties. A very good idea (provided the cash flow from these rental properties service both the rental property AND the LOC). Best part of all, you...

I have recently inherited a 1/2 acre ocean view lot in Parksville, BC, a present from my ageing parents. The tax assessed value for the lot is $300k. I have a friend, experienced in real estate investing, urging me to build on the lot in order to increase the profit potential after selling...

QUOTE (smallfry @ Oct 7 2007, 08:39 PM) Dear Timallix: I am sorry to hear that you had a bad experience with Russ Whitney. I have been a long time student and loyal follower of Russ Whitney. I discovered Whitney before I found out about REIN and it really helped me to learn real estate...

I am just starting out on my real estate investing career. This past weekend, a friend and fellow investor, his father and I attended a 3 day seminar put on by the Russ Whitney Real Estate Training Academy. My friend had bought a training package with books and and audio CD set, and part of...