All Forum Posts by: Mindy Jensen

Hey Danielle.

I'm going to go in a different direction than some of the other commenters.

I am an agent, and depending on your state, getting licensed can be a BIG commitment, both time- and cost-wise.

I wouldn't recommend getting licensed unless you want to work as a real estate agent, helping people buy and sell properties. The licensure coursework doesn't teach you anything about real estate. 

I would also caution you to do a deeper dive into wholesaling. It's not the easy endeavor that the people on the videos make it seem like. 

 Hey Jack. I'd love to hear more about this.

Looking to chat about Co-ops, and how to take title with one. Looking for information about assuming a loan after the death of a spouse.

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If you are paycheck to paycheck and have no idea where your money goes, want to know if your rental portfolio is a great performing portfolio, or simply interested in having another set of eyes on your scenario, fill out the form at www.biggerpockets.com/financereview.

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Please reach out to our support team and they can help you. I'm not sure what issue you're experiencing. Support can be reached by emailing [email protected]

The only place to post listings is in the Real Estate Listings Section. 

I need to reduce the price of my property for sale. A reduced list price means I'm paying less in Capital Gains Taxes. How would a "Credit at Closing to help with Buyer's Closing Costs" come into play?

Does this also reduce the amount of Capital Gains Tax, since it is less money I am receiving?

Hi @Luke Smith

This is the place to ask your questions. No need to have people DM you, you can just ask right here. That is what the forums are for. 

HELOCs have historically been difficult to get on rental properties, and the only lender I knew of who did write HELOCs on rentals is no longer doing that, as of April. 

You're asking about Vacation Homes and Second Homes, which tells me you're probably trying to utilize a Vacation Home Mortgage to purchase a property, that perhaps you would then rent out short term? If you have no plans to use this solely as your vacation home, you should not use that type of mortgage. Instead, use a traditional rental mortgage. 

You're probably not intending to be fraudulent, however as the Community Manager here, I feel compelled to inform you that lying on a mortgage application, stating that you intend to use the property in one way when you actually intend to use it in an altogether different way, is mortgage fraud which is a felony punishable by up to $1 million in fines and significant prison time.

We recently released an episode of the BiggerPockets Money Podcast with @Jon Lallande, where he gave mortgage tips and we touched on mortgage fraud near the end. Jon shared several different ways to help you qualify for a loan, different loan options, etc. Check out

https://www.biggerpockets.com/...

The CO market is changing, just like the rest of the country. The Fed raised rates .75% in June, and the jobs report just came out with better-than-expected results. The Fed is going to raise rates again.

I would not be getting into a fixer right now, unless you had multiple exit options.