Forrest Shealy
finding the owner of abandoned property
20 November 2018 | 11 replies
Not a bad ROI, but the area overall, outside of Park Circle, hasn't seen the same improvements as other areas in Charleston.I grew up in Summerville and there are a few neighborhoods that have investment activity.
John Sheridan
How long will a quote title action take
19 November 2018 | 18 replies
you will do fine just know the rules on tax sales before you jump in.and the best place to do that is your local title company that sells title insurance they will tell you what they need to issue it.. thats the bottom line.. if your in an attorney closing state then the attorney who specializes in real estate closings should know this off the top of their head..
Mark MacDonald
Focused on self education
17 November 2018 | 4 replies
Right now I’m really focusing on fine tuning my finances, eliminating debt, improving my credit score, working on building a savings and educate educate educate.
Chris Lin
Beavercreek - is this a good deal ?
25 November 2018 | 16 replies
Rental calculator seems to suggest this is a good deal according to 1% rule ( not quite 2% but looks pretty good to me already ), the rent estimate was a guess from a near by rental ( there aren't many rentals in Beavercreek somehow ).Above average SD , all three schools are rated 7 ( not sure if this is considered as B, B+ area ).Obviously the numbers would only make sense when the estimate rent can be archived, so my questions for Dayton / Beavercreek BPer - Does Beavercreek have high rental demands ?
Jackson Acuff
College student looking for first deal. Have two I am looking at!
18 November 2018 | 2 replies
Definitely talk to some of us "locals" though about the area the house is in and the returns you *should* be getting. 2% and 3% rule deals are possible in Little Rock, so don't settle for 1% if you're in a neighborhood where you should be getting 2%.
Joshua D.
Is everyone ready to hear my crazy deal of a lifetime?
21 November 2018 | 71 replies
And the probate process pays the final tax bill for the person and the person's estate prior to closing.A probate case is considered open until the final distribution is made.The main problem with buying a house for someone who inherited it and they did not do probate, or they started it--opened it--but did not like the oversight or process, then they just stop following the probate rules (sell stuff, pay bills, then distribute assets/money) and sell the assets as a real person and the money does not make it to the estate, then the sell may be considered fraudulent and reversed by the court overseeing the probate case.
Mike Dorneman
1031 Exchange Question
17 November 2018 | 8 replies
To the best of my knowledge, the fact that you already have the proposed property under contract prior to the sale of the relinquished property does NOT make a difference.Just don't close on the replacement property until AFTER you sell the relinquished property.Here's a link to a great explanation of the identification rules:https://firstexchange.com/content/top-ten-identification-rules-1031-exchangesThe resident 1031 expert on BP is @Dave Foster.
Robert Collins
Looking for a BP Podcast Episode
17 November 2018 | 0 replies
I’m looking for a Bigger pocket Podcasts Episode where the investor that was on was talking about that he does not go into the properties he buys, he mentioned that he looks at the MLS pictures and if it looks like it need a little work he does $10 x sqft , small rehab $15 x sqft , & if it need a full rehab he will do $20 x sqft and subtract that after the 70% rule .
Shayne Mahoney
Borrowing Against Annuity to Invest
19 November 2018 | 4 replies
Rules have been changed and in the past it was OK to borrow as collateral as temp loan.
Naimah Lewis
Should I Take a Heloc on Primary Resident To Get Started In Real
19 November 2018 | 4 replies
You borrow the $20k downpayment plus $5k in closing costs and $5k in rehab costs from your HELOC also at 6% (note $5k in rehab costs in nothing so the house better be newer and in great shape).Let's say you rent the property out for $1000/month and using the 50% rule you have $500 in expenses each month.Your mortgage payment will be $480/month.