All Forum Posts by: Angela MIller

@Cassi Justiz

We are getting two duplexes. One has some carpeting and mold remediation that won’t be completed until week of Sept 23rd. Owner want to be in town for the closing but the new closing date he wants doesn’t work for my partner or I. I asked to close on one of the duplex on the original closing date of 9/18 and the other with problems whenever it works out for my partner and him...but they say no, they both have to close on same day, as we are getting a discount on both. So if we move this to the day he wants, I calculated a lost rent of 3.5k which they will not compensate for. I talked to an attorney and he said we can still close both on 9/18, and set aside an escrow account for the remediation cost. Told realtor that and he said seller does not want to pay for this escrow account and will not reimburse if cost comes in greater than current bid prices, so it will be on us to make up for all this difference. I’m gonna call title company to see what their thoughts are on all this and exactly how much to set up an escrow account.

We have a contracts for closing on duplex 9/18, owner wants to move to 10/1? We do not want to, what are our rights?

THANK YOU!!  I agree!   This video also helped propel me to take the 30 year loan this morning (https://www.youtube.com/watch?v=BJ3xhjqk52A&feature=youtu.be).  Good take home points on taking tax deductions and inflation into account as well.  Never thought of that!!!  

Purchasing a duplex...can’t decide if should go with 15 years or 30 years. 15 years = less income but done in 15 years so more goes into principal; 30 years = more income but very little goes into principal. Which one would you do? Also, can somebody explain how I can use equity line of credit on home to make downpayment on another house? Typical fees in that and whether or not worth it? So my thinking right now is go for 15 years, use equity line of credit to use as downpayment for next property...or do 30 years, and use extra income to buy more property. Which is more logical?

@David Wilson.

Partner up! You supply funds and partner supplies time and management service. It’s a win/win. :) #currentposition

I’m new to bigger pockets and buying properties. I currently own a home with a 15 years mortgage and bought a condo with a 15 year mortagage. I plan to invest more. My question is...is it smarter to go this route even if you break even or pay a little into mortgage since you get to own the property sooner (like 15 years sooner! ). Are there any tax benefit from doing this? I also work full time, so am making 6 figures. So trying to figure out how I can grow my assets without having to pay an arm and a leg in taxes...