Hank Bank
Starting My Real Estate Journey: How Can I Leverage a Paid-Off Townhome?
24 January 2025 | 11 replies
Nothing illegal about doing that, but if caught, the lender may call the loan due and if you don't correct the situation or pay the loan off, they willstart mortgage foreclosure.3) You could also go the HELOC route to tap the equity in the home, but the 12-month owner-occupancy will also apply AND the interest rate on the HELOC will fluctuate with the Fed Fund Rate.4) You could do a cashout refi as an investment property, but that will be at an interest rate 0.5-1% higher than owner-occupied rate.Suggest you meet with 2-3 lenders to explore your options about the above.Once you have access to funds, recommend you buy a 2-4 unit with 20-25% down. - You can buy owner-occupied, live in one unit, and fix up and rent the other unit(s).- If you're handy, recommend buying a property in the worst condition you can tolerate.
Tim Tafel
How Does Comping Software (Privy, Propwire, Propstream) Get Their Data?
15 January 2025 | 3 replies
Quote from @Ryan Konen: You are correct that comping software like Privy, Propwire, and Propstream primarily rely on public records for their data, such as county assessor records, MLS feeds, and sometimes 3rd party aggregators.
Melissa Sejour
How do you research the best areas to invest in?
6 February 2025 | 12 replies
BiggerPockets has some pro tools that let you see rent to price ratios and other cool stats, I use this to check out various markets and which seem to have better/worse profitability.
Michael Plaks
EXPLAINED: sending 1099s to contractors and vendors
15 January 2025 | 13 replies
They must sign the form.The IRS offers an online tool that lets you check if the tax ID the contractor gave you matches the IRS records.
Ming Huang
How does this deal look near Airforce Base in OKC?
23 January 2025 | 5 replies
Small is easy to maintain as long as renovations were done correctly.
Chris Otto
First time with potentially investing and in need of advice with my situation
5 February 2025 | 1 reply
If it is let me know and ill repost correctly.
Rohit Raturi
Advice Needed: Buy Property under LLC or buy under personal and then move to LLC
30 January 2025 | 6 replies
Though many investors bend the rules and possibly don't get caught, you have the financial situation to do it correctly.
Account Closed
PM needs ss#
22 January 2025 | 14 replies
Quote from @Zara Massoud: Your new PM is correct and the old ones were wrong.The property manager must have your social security or tax ID number on file.
Garry Lawrence
19-Year-Old Closing on First Rental Property – Seeking Advice!
11 January 2025 | 12 replies
What property management software or tools would you recommend for tracking rent payments, leases, and maintenance requests?
Brett Riemensnider
Seeking Eviction Advice
4 February 2025 | 7 replies
If you don't do correctly courts will throw it out and you will have wasted a lot of time.Good luck!