All Forum Posts by: Tiffany Jones

Thank you so much for responding 

I have a couple properties still in my name and those tenants have been impacted.  I was wondering would I be able to qualify for the SBA loan?

Hello-- Do you have to have an EIN in order to apply?

Hello All,

I have an investment property in Baltimore, MD that I would like to sell. I have someone that is interested in the property and wants to do a land contract agreement. He wants to keep the property as an investment. The property is currently on a 12 month lease. The house was appraised at $100k and that's my asking price. He has offered to do a $10k downpayment. I'm thinking a 3 year hold and a balloon payment at the end of the 3rd year. I have never done a land contract agreement before so I'm a little hesitant.

Questions:

1. The property is currently mortgaged so would a land contract force the due on sale clause?

2. Who is normally responsible for the repairs after a land contract is signed?

3. Would I still be able to deduct the mortgage interest, taxes, insurances, etc. on my annual taxes after signing a land contract agreement?

Any advice or guidance you can gave is truly appreciated. Thanks :)

Tiffany

Hello All,

I have an investment property in Baltimore, MD that I would like to sell.  I have someone that is interested in the property and wants to do a land contract agreement.  He wants to keep the property as an investment.  The property is currently on a 12 month lease.  The house was appraised at $100k and that's my asking price.  He has offered to do a $10k downpayment.  I'm thinking a 3 year hold and a balloon payment at the end of the 3rd year.  I have never done a land contract agreement before so I'm a little hesitant.

Questions:

1.  The property is currently mortgaged so would a land contract force the due on sale clause?

2.  Who is normally responsible for the repairs after a land contract is signed?

3.  Would I still be able to deduct the mortgage interest, taxes, insurances, etc. on my annual taxes after signing a land contract agreement?

Any advice or guidance you can gave is truly appreciated.  Thanks :)

Tiffany

Congrats @Daniel Toshner that is awesome.

@ Tamara V. I'm interested in buy and hold and flips. I have experience in buy and holds but I would like to get into flips

Both-- My target is properties under 60K?

Hi BP family,

Can anyone suggest some good investment areas in Baltimore, MD?  

Thanks

Thanks for the advice @ Brad Smith and @Robert Herrera. 

When I was younger, I started investing but took a long break for motherhood. I have max out on the amount of loans I can get through traditional banking. 

Would a broker have those same restrictions?

Good Morning BP family,

So I'm interested in buy and holds in the DMV area.  Can anyone recommend the best source of financing these types of deals? 

Thanks in advance.