All Forum Posts by: Account Closed

Congrats!

I was doing some reading on this subject this afternoon. If I am understanding it correctly, you have to be completely hands off when it comes to the rental property. Also, expenses need to be paid from the account and income needs to be deposited into it.

Please correct me if I am off base on this one.

Thanks

I am not posting this to be malicious in any way, but if I was your money guy I wouldn't want you sharing that on the internet. I also wouldn't want you to post the address of the deal we were working on.

Jennie, prepaid items represent money paid in advance of the when it is due. Typical items that fall into that category include"

Mortgage interest that accrues between closing date and month-end

Real estate taxes paid into an escrow account

They are typically paid at closing and rolled into your final loan amount.

What does your listing agreement state regarding cancellation?

Natalie, I am sure you have already got an e-mail recommending reading the beginners guide to investing. I am a new member as well and highly recommend you start with reading the guide.

http://www.biggerpockets.com/real-estate-investing

Bumping to follow discussion.

The "too good to be true" alarm kept me from purchasing any of these courses, but it didn't stop me from stopping and watching whenever I stumbled upon them while channel surfing.

@Jerry Kisasonak

I can think of many reasons I wouldn't want to live there. The streets above Butler are steep and a nightmare in bad weather. Also, I don't exactly view it as a safe neighborhood.

Very useful info. Thanks