Socially Responsible Investing» Socially Responsible Real Estate Investing

Will I lose my house after my 6 investment properties are foreclosed on. How can I keep my home.I’m self empld?

Tom — Thu, 19 Jun 2008 04:49:35 +0000

Staci K asked:

I own a small construction company. Work has been slow. My credit cards are maxed out and I am about to not be able to pay the 7 mortgages I have. (4 houses have been unrented on and off). I want to at least keep my primary residence for my kids. I have a small pension fund. I need to keep that and use it for food and basic expenses. What is the best plan of action?
Thank you.

Jackie

How canI purchase investment properties without them all being on my credit?

Tom — Sun, 16 Dec 2007 06:07:03 +0000

bjiou1978 asked:

I want to purchase homes, rehab them and rent them out. How do I go about getting more properties if the houses that I already have are affecting my credit (income/debit ratio, credit score etc). Is there a way that I can start a legal business name and have all properties under the business? If so how does that work as far a trying to take out a loan for the houses under the business name? I want to separate by primary residence from my investment properties by not having them under my credit. How can I do this legally in Texas

Allen

I have 2 investment properties in Euclid, Ohio.How do I determine the basis and depreciation for tax purposes.

Tom — Wed, 31 Oct 2007 21:08:54 +0000

moor questions asked:

I bought first property for $119,000 in September of 2005 and the second property for $127,000 in January of 2006. When I used tax filing software to do my taxes for 2005 and again for 2006,the software indicated that I had zero depreciation for both years.What am I doing wrong. It too late to do anything about last year taxes, but I have not filed my 2006 return as yet. I was told by people with investment propert that I could claim depreciation as soon as the houses became marketable.Is there a mistake that I made or is the mistake with the software?

Kathryn

Should I sell or finance my investment properties?

Tom — Sat, 28 Oct 2006 11:49:21 +0000

meanracoon asked:

I have four houses that I bought to rehab they have been rehabbed and I am trying to sell them. I need some capital to move on to my next venture and currently have no note on thes properties. I am wondering should I finance them to get the cash I need and then rent them out or should I just keep trying to sell them. Currently my partner is attempting to sell them for about 20 to 25k under their appraised value. If I finance them and pay him off and then rent them out the rents would cover the 4 loans any advice?

Crystal