All Forum Posts by: Bryant K.

How much is the lender in a seller finance taxed? I know gains on interest are taxed at a different rate than principal recapture. What are the tax rates? I've tried looking it up but can't find the answer.

I'm looking for some people who have experience with rooming/boarding houses. I'm contemplating purchasing one or starting one but would like to get some feedback from someone who's done it. Does anyone have recommendations on who to speak with?

@Oscar Cardenas

I finally got an answer. USDA allows for a purchase of a house with multiple units. However most banks only contract with the USDA for single family. But it is possible.

Is there a way to accept partial rent payments safely? Is it true of i accept a partial payment in the 1st and require the rest be paid by the 5th (when nys considers rent late) will this prevent me from evicting that month?

@Cameron Riley I can certainly see the pros and cons, and could see why you'd screen that many people to have a bigger pool to select from. I would personally but a limit on it, because I wouldn't want to charge that many people the fee considering they're lower income families. However, i think it depends of other factors as well, like the likelihood you could find a decent tenant in 15 applications. Where I own properties the housing authority that oversees section 8 tries to protect the landlords and are great to work with from my experience. I know that's not the case everywhere.

So long as you arent collecting the fees without running the applicant through the screening process, i don't think it's over kill. At first i thought it was a high number of applications but in my area if you advertise that you're looking for a section 8 tenant you'll usually get a flood of applications

I remember hearing someone on a podcast say they used a USDA loan on an investment property. Everything I can find says it's impossible. Does anyone have any info on this?

What techniques, systems, and suggestions to do have to make driving for dollars easier? Tracking down owners is so frustrating

I've invested in the Rochester, NY area. I'm comfortable investing there because I'm familiar with the city. I like investing in Rochester because the selling prices aren't that high and it's fairly easy to have positive cashflow. Some neighborhoods arent ideal but that's the case with all cities

@Theresa Harris they both were tenants that came with a property i bought in June. She's on the fence with what I'd consider qualifies her. But she appears to be a good tenant. At least thus far