All Forum Posts by: Account Closed

My father will be renting out a duplex in the next month and I want to make sure he does a background check to screen tenants. 

I'm looking for recommendations of companies that do trust worthy background checks. 

Also, any advice on an effective method to find good tenants!

Hi all!

edit: They also go by "bond loan programs"

I was having dinner with a friend of mine this weekend who works in the mortgage industry and he mentioned something I haven't come across, the bond mortgage. He explained it pretty simply, 10-20% is provided as the mortgage, and if the payments are made on time for 5 years you don't have to pay that initial 10-20% that would act as the down payment.

Could this be??

I haven't searched to see if this is real or predatory..just thought I'd try here first... 

since this is where I get the best information. 

Thanks!

@Bernard Reisz Thank you! I will definitely look into these options.

@George Blower @Brian Eastman Thank you both! That clears things up. 

Hi all, 

I have a quick question. I see lots of people mentioning using their 401k  or ROTHs for investing in properties, most of which are solo 401ks. I was hoping someone could break down the options for an individual just starting out at a company. I do have the option for a 401k with a match program and I do plan to max out that option. My understanding is there are penalties for pulling out against a 401k before the age of 65? Is there a way to avoid that penalty when investing in a property? 

Thanks!

For everyone just to clarify, If there's a negative connotation with bird dogging that/s not my intention. I'm interested in helping wholesalers or flippers by feeding them deals, not taking advantage of their current properties or anything of the sort!

Thanks @Account Closed  I'm taking the time now to really educate myself so I'm an asset to those of you who have been doing this for 10-20 years. I'm looking forward to meeting!

@Jose Flores 

I found  purchase agreement  searching around BP. 

This doc is specifically for TX so would I need to go to  lawyer to get a document written up specifically for AZ?

I attached the link below

https://www.biggerpockets.com/files/user/chris_col...

Awesome! @Jose Flores Thank you for the info. 

So in this case, the cash buyer would be the wholesaler correct?

That being said, learning the skills of a wholesaler would help since I would be able to know what value I'm really finding in a property?

Thank you

Wow great podcast! I appreciated hearing how he addresses covering himself for any potential correction