It's typically not advised to use a HELOC for long term assets unless you are getting a ridiculous return

Hi everybody, I have become close with a seller who is looking to sell the rest of his portfolio to me and is willing to work with me on the terms.He will make it so the properties will at least brake even on the cash...

So, taxes DON’T “transfer to your name”.My best advise is that this isn’t a do it yourself project.

Any advise or encouraging words are appreciated.

I would also advise to save for reserves.But there isn't a universal right path.

I suspect an Bk attorney would advise you that you don't qualify for a BK.I suggest you consult with a very good real property attorney, preferably one who practices in the area the property, or better yet the foreclosure Trustee is located. 

We're advising clients to consider selecting a lower prepayment penalty to refinance if rates decline in the next few years.

The house required extensive renovations including the roof, windows, HVAC system, kitchen, bathrooms, and more.Initially, my GC advised that only a permit for the roof was necessary.

To me this looks like a trap.From the Fiscal and Policy Note on HB 301:Additional Comments: The Maryland Real Estate Commission advises that it interprets a provision of the Maryland Real Estate Brokers Act (§ 17-322(b)(11)) to preclude licensees from engaging in wholesaling, which may conflict with the bill’s requirement that wholesalers be licensed by the commission.In other words, sure just get licensed... and once you do we'll fine you to no end for engaging in your business.I don't see this bill becoming law as currently written.

Please advise if we bought the property and if it was the lease from the previous landlord.One time we saw that they were smoking, but it's not allowed in the property.Also, we noticed that it's only 1 person in the lease, but it's actually 3.Please advise if we can do something with that.