Lease Option Title Seasoning
Hi Guys,
Two questions I have are, how do you handle title seasoning requirements and short term capital gains?
I've called over several banks and mortgage compaines and it seems it's almost impossible to find banks that don't have at least 60 day seasoning. Also I was told I could just assign my intrest to my tenant and let him close directly with the seller and collect my assignment fee, thats fine but what if I have a large equity position? I don't want my buyer to know how much I've made.
With regaurds to the capital gains, I've heard that since my option is over 12 months I shouldn't be charged for short term capital gains, but I'm not sure how that works.
Any help you can offer will be appreciated!
Thanks,
Stewart(Chicago)
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