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Results (10,000+)
Graham Lemly Financing Strategies for house I want - Hard Money, Rehab or Conventional?
4 January 2025 | 1 reply
Here is some key information:Property recently hit the market and has 2 cash offers alreadyThe seller provided a pre-inspection report, which I shared with 2 different lenders, both think it may fail conventional financing due to potential structural and electrical issues (realtor thinks it could pass conventional)Seller has 100% equity but is behind on other payments (not sure of the urgency money is needed)This is my first attempt at an “investment” property so I’m new to thisI see 3 optionsMove forward with an offer using conventional loan pre-qualification-Not as attractive of an offer to the seller-Possibility that appraiser calls out structural/electrical issues that need to be fixed before closing, effectively causing financing to fail- Best terms and fewest loan fees for meUse a rehab style loan such as ChoiceRenovation-Even less attractive than a conventional offer to seller, but less risk of failed financing if appraiser calls out issues-Slightly worse fees and interest rates compared to conventional-Lenders tell me possibly up to 60-90 days closing in some cases, with red-tape for contractor requirements and draw schedules (sounds like the most hoops to jump through during rehab)Use a hard money lender-Most attractive loan option I can give to seller so I can compete-Much higher fees and interest rate for me-need to refinance into a conventional at the end of rehab (not familiar with seasoning periods but I think this is a factor as well)Which option would you do?
Jackie Liu Unresponsive Property Manager
11 January 2025 | 15 replies
Quote from @Jackie Liu: Hello BP member, I have a friend who currently owns several SFH rentals that is currently managed by a PM in Indiana, according to them the PM has been unresponsive for 3 months, all their attempts to reach the PM has been uneventful (phone, message, etc.).
Jesse Streng Detroit Property Manager
4 January 2025 | 20 replies
He ignored several attempts and only got involved when we sought outside help but has again become unresponsive. 
Greg Grisez Tenant shot & in the hospital
11 January 2025 | 18 replies
lol, bro, he's been involved in an attempted murder twice in the last 6 months.
Josh Holley Seller won’t return EM
31 December 2024 | 97 replies
It's hard to tell if Josh knows this and is just trying to blackmail me in an attempt to get me to try to work on his behalf in twisting the sellers arm to do what Josh wants.
Felisha Derrick Beginner situation/Hubris/What would you do?
6 January 2025 | 9 replies
Latest is prop 33.  3rd attempt to pass this with aids health foundation having spent mid $40m last I looked.  
Keaton Sheffert First Time Attempting to Re-zone Land - Advice Needed
14 December 2024 | 13 replies

Hello BiggerPockets Users,I am looking for advice on how to best convince my local zoning commission to accept our proposal for a rezoning from residential to commercial (for apartments).Background: My business partne...

Manuel Angeles Eric Spofford Section 8 Course
7 January 2025 | 27 replies
His "team" has attempted to buy a couple of my properties in Cleveland, Ohio using a dead LLC. 
Bob Avery Understanding BP Lease Fields
9 January 2025 | 3 replies
Quote from @Bob Avery: I don't recommend leaving a space blank because someone could later attempt to add something in.
Eric Helena 1031 exchange with relative
31 December 2024 | 2 replies
There are some accountants out there who say that the very act of doing a 1031 exchange is an attempt to avoid tax and so a 1031 purchase from a related party is a non-starter.