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80023 : Real Estate Advice

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Activity 2
Fri Mar 4, 2016
MCM_STL answered:
Capital gains refers to the profit you make on the sale above what you spent to purchase the property. It's not really an issue right when you when sell but you may owe income taxes on your profit. Don't try to avoid reporting it because other parties will let the IRS know it happened. You'd want to talk this over with your tax professional. ... more
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Thu Oct 8, 2015
Sally Grenier answered:
What is your question exactly? To get any sort of loan, you have to qualify for it. This means showing a decent credit score, stable income, decent debt to income ratios, etc. Just because she gave you her home, doesn't necessarily mean you automatically can get a loan for remodeling. I would check with some local banks or credit unions for a home equity line of credit (HELOC). ... more
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