All Forum Posts by: Account Closed

Most lenders would offer a 3 month extension for 1 point or so if you can't flip or refi in the 6 months.

Here are articles that may help with your decision-

http://www.biggerpockets.com/renewsblog/2010/10/27/3-reasons-you-should-be-a-realtor-and-real-estate-investor/

http://www.biggerpockets.com/renewsblog/2010/02/24/should-you-get-your-real-estate-license-investors/

Being on this subject matter, are there any problems having a CPA that is remote (out of city/state)? I'm deciding whether I should start considering accountants not local to me since I haven't been able to find one that I've been happy with.

Thanks Josh.

I've monitoring quite a number of threads and view them under "My Watched Topics", which displays about 20 per page. When I try to scroll back a page by clicking the "next" button at the bottom it just sits there thinking. I'm not able to view any of the past threads beyond the first page. Is anyone else having this problem?

I've been scanning all my receipts and have been storing them in Google docs (free storage up to 1GB). Since I started using Buildium I've been storing the scanned receipts as part of each recorded bill or expense entry.

As far as keeping originals, I haven't been keeping them. Does any one know if it's required to keep the original receipts or would a digital copy suffice in case of an audit?

I stay away from houses with pools for rentals. Too much liability and another maintenance item for a tenant not to take care of. Other things to consider is the possibility in the increase of insurance premium and also state property codes surrounding rentals with pools.

I used hard money once and never again after I realized how many points and fees I was paying. I only use private lenders, straight conventional, or cash. If none of these options are available to me, I would rather sit idle and save before considering hard money again.

Could be... but I don't think a lot of home owners are in tune with the tax laws until they wonder why the received a 1099

Most of the answers you are looking for are state specific. I would refer you to the landlord tenant laws of your state or consult an attorney... or hopefully someone familiar with your state laws can comment.

With that said, in Texas you can combine a suit for non-payment of rent with an eviction case and there would still be a hearing even if the tenants have vacated. If your state does not allow you to you may have to file a separate case for non-payment of rent with small claims court.