Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
Results (10,000+)
Ben C. Interior Demolition Question
17 September 2016 | 10 replies
If you are replacing the main service as well, they need to pull a temporary pole as noted by @Aaron McGinnis or use a generator.
Taylor Wood Formula Help
15 September 2016 | 0 replies
Looking at a potential real estate investment and I have all the cash flows (after debt service) and anything else I would need I am just lost on a couple of things I am being asked for...
Jason Krick First Deal!!! LLC, Commercial Loan and 401(k) Loan?!?!?!?
26 December 2016 | 19 replies
This may be a long post, but I thought it would be good to walk through everything step-by-step, and explain my thinking along the way.If you want to stick with me through it all, here we go:I was not going to be getting a conventional mortgage for my first property for a number of reasons.First, I am still annoyed at the hoops I had to jump through to get a mortgage for my primary residence.Second, my liquid cash was on the lower end.Third, the properties that I would need to start out with would not be financeable anyway.Fourth, my DTI is on the high side, due to the decision that we made to take out a HELOC to complete interior improvements on my primary house.So, I decided that my path was going to be to form a single member LLC, and take a loan from my 401(k) at work to finance the down payment.Since I do not view the 401(k) loan as a long-term solution, I am treating like hard money, and pay it off ASAP.So, my first deal would be a flip, or a rental that was such a good deal, that I could re-fi out and pull all my cash out.I decided to reach out to the commercial lending department of the local credit union, which I am a member.The person I talked to (who became my lender) is fantastic.I told him what types of properties I was looking for, and that I’d look to turn them into rentals, or to flip them.I will never forget his response, which reminded me why I love this credit union.He said:“Typically, the deals you are talking about are much smaller than the deals we like to do.However, we also realize that you can not get to that level unless someone helps you get there.So, if the numbers make sense, we will see if any of our products fit.”Awesome!
Nate S. Getting Prospective Tenants to Trust You When Managing from Afar
15 September 2016 | 5 replies
Even if I was able to find someone, I would likely be paying one month's rent for the service, which means thousands of dollars.
Alvin Grier Success Marketing to Owners in Redemption Period?
15 September 2016 | 0 replies
We reach out at multiple times throughout the redemption period, all the way to the end.Part of me is beginning to think that foreclosure is such a touchy subject to many people, that many would rather just ignore taking any action, and just let the property go, even though our "cash for keys" and offers to list their properties give them a chance to make something good out of a bad situation.Conversely,  somewhat seasoned marketer in me wants to stay the course, and keep altering our message until we improve our response rates; after-all, people have been successfully marketing to people in foreclosure and pre-foreclosure for years, which makes me think there is hope to ramp-up response rates.Sorry for all the text, I'm thinking out loud a bit here.Has anyone had any success marketing to mortgagors during the redemption period?  
Edwin Farmer Due Diligence On Private Lender
19 September 2016 | 14 replies
If he is legit, then he shouldnt need anything from you up front (maybe a small $100 application fee at most)Use an escrow service.  
Jane Guerreso Landlord does not report our ontime rent. Impact on our credit?
15 September 2016 | 4 replies
The bureaus will allow payment services to report though so here is a link for the ones that currently report to Experian:https://www.experian.com/rentbureau/rental-reporti...I have heard of Rental Kharma that charges a fee to report just your payment but that doesn't include any payment processing.  
Charlie Fullerton First Tenant Late Rent Issue
15 September 2016 | 3 replies
My objective is to move the building in the other direction with improvements and rent increases to get higher quality tenants.    
Simcha Davidman SFR in Nutley, New Jersey
15 September 2016 | 4 replies
3 BR/1 bath asking $170k.Taxes are $9,062 (although I saw at least one other figure on a different website, I went with the highest)Here are my assumptions:closing costs - $4,000rehab/initial improvements - $5,000 (this is a blind guess because there are no pictures of the inside available, but let's not focus on this number right now...)Rent - $2,000vacancy - 8% ($160/month)property management - 8% (the calculator I used (downloaded from BP) uses net rental income for this, so it's about $147.16/month)maintenance - $1,000/yearcapex - $160/monthinsurance - $1,000/yearwith a 25% down payment and 4.5% thirty year financing for the balance, I net a whopping -.82%.  
Meghan Macur Are unofficial offers harmful?
16 September 2016 | 10 replies
As a Realtor I have certain minimum services I need to perform on behalf of my client and one of those is presenting all offers in a timely manner.