I'd just declare it as a rental until you come to that moment when you really know what you will do with it!

Watching Pace do deals makes it look effortless on the seller financing side, but hes done enough deals that its all muscle memory.

They told me as a result that the park does not need a permit so long as the homes that come in on the empty pads are permitted accordingly (e.g. setback, tiedowns, etc).I will get this "no permit needed" claim in writing via an ordinance or declaration of some kind from the city, it just seems very uncommon.  

Literally anyone can develop land as an active partner in a development project and hence declare themselves a "developer".

Growing my deal analyzing muscle and came across a property that looks like it could be a real value add opportunity.

My investment property is declared on taxes as an investment already so I doubt it's considered a personal residence anywhere.

 : )   That electric hammer is only $136 if you use the coupon and will pay for itself over and over again in both time saved and muscle soreness.

Hello Everyone,Its 2022, Ive searched recent forums here on BP that would be in relation with todays current market and my questions/cry for help.I was almost "pass the finish line" today with obtaining a HELOC on my current rental that I have.... then the credit union realized it was a rental property after looking at my property's insurance declaration (SOLE PROP, VACTION RENTAL)😓 .I spoke with 5 smaller banks/credit unions, so far its a no-go on a Heloc.

Not to say you committed fraud, but you have inadvertently violated the terms of the mortgage, and with the violation, the mortgage could then be declared void and due in full by the bank.

All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to purchase, or to options based upon a substantial consideration actually paid and not subject to any agreements to return or right of return reserved.History.