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Results (10,000+)
Nikolas Hamon Is there such a thing as adding too much value to a fixer-upper?
17 August 2021 | 14 replies
Absolutely not.Even if you do plan to sell it, as @Gabriel Tapang pointed out, you do not need to put in an inlaid marble tile floor in the dining room of a $160K townhouse condo in a development with 350 other largely identical townhouses.
Matthew Kelm Hard money lender wanting an upfront payment
17 August 2021 | 9 replies
This has value too and can be used to steal your identity.
John C. Indemnification provisions in property management agreements
2 January 2021 | 2 replies
IF the owner wants to get involved in the applicant screening process and approving applicants, than the owner should be willing to indmenify the PMC for that.A good PMC will have Errors & Omissions insurance with Fair Housing coverage also.Idemnication doesn't usually protect a party when they've committed fraud.
Hailey Padgett Can I wholesale in Iowa without a realtor license?
19 January 2021 | 3 replies
If an investigation pursuant to this section reveals that an unlicensed person hasassumed to act in the capacity of a real estate broker or real estate salesperson, thecommission shall issue a cease and desist order, and shall impose a civil penalty of up to thegreater of ten thousand dollars or ten percent of the real estate sale price.PS - this took me 30 seconds with a Google search.PPS - this is nearly identical to most, if not all, other states. 
Bradley Chapple Converting OOS 2nd Home to LTR
28 December 2020 | 2 replies
With a second home, I know there are rules for STRs and how many days it can be rented out to avoid the tax consequences and so on, however, I’m not having much luck finding a clear, BS-free discussion about just converting a “vacation home” into a 100% long-term rental.I have a lot of family out-of-state and I thought I might be able to kill a few birds with one stone if I were to buy a second home near family with 10% down and a low-ish interest rate, travel there a few times to visit the kinfolks (and performing some DIY rehab work each time), and then finding a tenant a year after the purchase date.Obviously, I’m just trying to do the right thing and avoid committing mortgage fraud and having the loan called due, or having to refinance it as an investment property, which could be expensive considering we don’t know where rates are doing to be a year from now.Anyone have any knowledge, experience, or just plain old opinions on doing this?
Allen B. Form 1099-S for 1031 exchange
8 August 2022 | 4 replies
Here is the text below: (it's the 2021 form but presumably identical)2021 Instructions for Form 1099-SIf you are reporting a like-kind exchange of property for whichno gross proceeds are reportable, enter -0- (zero) in box 2 andenter an “X” in the checkbox in box 4.Can anyone with some 1031 experience clarify this for me? 
Account Closed Investing in 2nd property after First Home Purchase.
28 December 2020 | 2 replies
Account Closed you just admitted to committing  mortgage fraud.
Pixel Rogue After 12+ months, titles are still no in our name (!!)
8 March 2021 | 12 replies
While both closings were nearly identical and same time frame, only one property recorded prepaid taxes which the title company mailed back (August 2020) and there was nothing collected for the second property.3) We think informing the lender of the problem might help put pressure on the title company, however the lending company of of the most skittish we have ever dealt with and might take drastic measure such as recalling the mortgages or something crazy...what could a bank legally do if they learn the title has never actually been recorded in the name of the borrower? 
Alex Pelin Eviction Moratorium Effects
5 March 2021 | 51 replies
The problem is the relief is going to the tenant..not directly to the landlord.That's terrible and likely considered fraud against the government, which she can be prosecuted for under the False Claims Act, among other laws. 
Wilson Lee What would you Landlords do?
29 December 2020 | 33 replies
Also, the table has both minimum and maximum guidelines for occupancy, which are set forth to avoid cases of fraud."