Steve Vanderlay
Global Mortgage Group or American Mortgages or Foreigner finance
15 December 2021 | 1 reply
Hi fellow BP'sHas anyone used or know of any feed back from other whether good or bad about Global Mortgage Group and their US subsidiary American Mortgages?
Sam Leon
Is there such a thing as a cat proof door seal?
17 December 2021 | 9 replies
@Sam Leon The best way to cat-proof a property is not allowing them at all.
Abad Marroquin
Is it a Refinance Cash Out or a Sale that will make me pay taxes?
25 December 2021 | 9 replies
Loans are not a taxable eventThis is my favorite mechanic in the American tax codeIf you create equity in an asset (real estate or stocks) and then sell it you pay taxes, if you take a loan out you get the proceeds but pay no taxes (and in the case of real estate get tax benefits) and if your asset continues to appreciate you can take loan proceeds out over and over again.
Bryan Noth
San Antonio named in top 10 ‘hidden gem’ housing markets for 2022
23 December 2021 | 6 replies
Census Bureau American Community Survey, 2019)Percent of household with broadband service (U.S.
Stephen Reyes
First rental purchased
9 January 2022 | 9 replies
The lender I worked with (Heather Bookout with American Mortgage) has been very responsive.
Brad Jacobson
Emotional Support Dogs - Legalities
27 December 2021 | 4 replies
Basically the same as above, but with it being a "place of lodging" more akin to a hotel/motel the applicable law is the Americans with Disabilities Act of 1990.Both FHA and ADA use the same terms of Service Animal and Emotional Support Animal....however each defines these completely different.Please Reference HUD Guidance Memo FHEO-2013-01 to get an overview on how each is defined.
Anne Williams
Feeling stuck- what would you do?
2 January 2022 | 21 replies
The numbers looked pretty good in the beginning..purchase price 429,500Arv 565-575kHard money loan: this killed me16k (2 pts, 10%, 3 mo in advance)Construction insurance 1600/6 moW closing costs all in at 451kRenovations were estimated at 50k (actually 59k-roof and sewer replacement and radon, and the drywallers killed my furnace)6k additional hard money paymentsStaging2k57k left (assuming 575k sales price)Sale side closing costs 6k (open title)20k realtor commission 31kAnd after Uncle Sam takes his cut21.7k is left..I put in 162k of my own money to save on interest.And there you have it..
Michael Williams
Christmas gifts for tenants
31 December 2021 | 26 replies
We gave every tenant a $25.00 American Express gift card as a token and for the hard times everyone has experienced over the last year.