All Forum Posts by: Uneeq Khan

@Cameron Tope besides relationship issues, are there any pros or cons tax wise? Write offs and etc? And how would it be illegal?

Just curious to know what benefits there would be to get a property and then "rent" (or actually rent) it out to your parents/siblings/etc? Any tax benefits? Is it even legal? What would make it illegal?  Thanks. 

@Courtney King

Thanks, sounds like a lengthy and difficult process. The property would be good as a 2FH not SFH. So there's a chance I'd buy it and then never be able to use it as a 2FH. It would also mean there would be a long waiting period before I can rent it out.

Found a property. Realtor says it needs a variance to be used as a 2FH. 

what is a variance? And how difficult are they? 

Yes. Currently don't have much information. Just that they were raided by SWAT, arrested, and had their car towed. 

They still have almost 40% equity in their home. 

Know an owner going to jail. lives alone. Sole owner. What happens to the property?

@Rickey Miller Jr

When the buyer goes to the property to inspect it, what's stopping the buyer from making a deal with the owner/seller behind your back? Can't they just wait out the time period of the contract and then contact each other.

Most people say the answer is to just buy the property and then sell, or do a double close. Not all rookies have that cash on hand.

If anyone could recommend a management company to work with an HOA on a 20-unit complex in Bound Brook, NJ, that would be very helpful. Thanks.

How is everyone figuring out rehab costs for wholesale and flips without being able to see the property due to lockdown, quarantine, stay at home, or simple just seller who don't want strangers in their home at the moment? 

a lot of people recommend virtual wholesaling but it doesn't really provide details on how to solve this particular problem. I don't want to give the buyer a bad rehab estimate because I could not look at the home. 

anyone have any luck solving this issue? Thanks. 

@Michael Imbriglio

My original idea was to focus and Excel on one thing (building leads) instead of spreading out on multiple things (leads, negotiate with seller, negotiate with buyer, transaction, etc).