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Results (10,000+)
Jason Leak Due Diligence question
18 January 2020 | 5 replies
Here are the specs:6 unit brick multifamily Apt building-priced at 569,000- negotiated down from asking 600,0006-2bd/1bth apts currently does 4700 per mth-rent currently about 20% under market at the start of due diligence was 100% occupied-That is what I based my offer on building performing at 100%tenant just gave his 30 day notice -so before closing the building will have 1 vacancy performing at 84%The inspection also turned up 15k of safety violations I believe both are points of renegotiation-I'm just not sure how much is my question-I was going to ask for 15k of a closing concession to cover the safety issues-but how much is considered acceptable/reasonable to decrease the price for the vacancy?
Marcus Johnson Murder inclusion in Minneapolis
21 January 2020 | 31 replies
My duplex in South Minneapolis has been performing quite well, so for now I’m going to stay in this position.  
James Kim Foreclosures on HUD homes
19 January 2020 | 3 replies
You can extend the time for the closing but there's a financial penalty for an extension.
Lowry Coe Will a 7/11 help increase the value of my home?
17 January 2020 | 6 replies
These bigger brands (7/11, dairy queen, subway, walmart, mcdonalds etc) conduct an extensive amount of research before deciding to break ground. 
Justin Elliott One Raising Objection
22 January 2020 | 21 replies
We are longer term investors and we invest for cash flow, so a short term change in valuation has very little to do with investment performance
Tamika Malcolm How to use 401k for investment properties
21 January 2020 | 7 replies
The repayment terms for a 401k participant loan are equal monthly/quarterly payments of principal and interest (typically prime plus 1%) over a 5 year term (longer if used to acquire your principal residence).Please note that if you take a full $50,000 and then pay back the loan, you can't take another $50,000 until 12 months after the first loan was fully paid back.Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).Alternative: Rollover Funds to A Solo 401k & Take a 401k loan or Invest in Real Estate DirectlyIf you are self-employed (i.e. active self-employment earned income separate from your w-2 income) with no full-time w-2 employees, you can set up a Solo 401k and then rollover your 401k funds once you leave your current job [NOTE: You generally can't rollover funds that you saved to your current employer plan until you quit.].You could then take a loan of up to 50% of the balance not to exceed $50,000.
Sefa Demirtas Should I close the loan as an LLC or on my own name?
19 January 2020 | 8 replies
Lender C said I would not be able to close it with a fresh new LLC because that LLC wouldn’t have had any performance to show or tax returns to present during underwriting, and the way that most of her borrowers go is to close with their name first and within an hour of the closing, create the LLC with the help of an attorney and transfer title right away (not sure if this is even possible!).
Jim Roach Non-Performing notes Acquisitions
20 January 2020 | 10 replies
How do I structure a deal with a private lender to acquire her non-performing notes, she has a lot of non-performing notes that she needs to deal with, her main interest is to receive monthly payments.
Luke Carl Tenant Stopped Paying Rent While I’m Under Contract
28 January 2020 | 37 replies
Unless you think they'll pursue you for performance, I'd bail.
Gabe Sirkin Seller lied about a lease renewal two weeks before closing???????
18 January 2020 | 5 replies
I have almost $1,500 between appraisals and extensions.