As accountants on BP we cannot promote ourselves directly.

You introduced me to my accountant Nick Aiola back in 2020 and I'm still with him:)

Buyer misses a payment - If the escrow company is making your mortgage payment, you want to always be sure your payments are made so pay a month or 2 in advance or keep it in reserves to make sure you always cover your underlying interest as your credit it tied to it. 

You also haven't accounted for capital expenses, vacancies, maintenance, or the solar panel payment in your cash flow calculation.

You might be tempted to think you can keep track of everything in your head or just use the transaction listing from your bank account to see everything that’s happening financially in your business.

Mortgage lenders have to sell these loans on the secondary market to avoid massive interest charges to their short term (warehouse) lines of credit, and allow for the liquidity needed to continue lending to the next guy... its kind of just how their world continues to go around. its rare these types of things happen, but it does happen. 

Hey folkswe have been buying houses and doing brrrr and has some questions around taxesWe are spending around 25-30 on each house but was curious if this all falls under capital improvements or do you class it as repa...

However the question is how much I am willing to invest in that attorney's bank account to possibly secure the property.

Covid left us all with thousands in credit card debt and a living situation that neither of us want to be in.In my life experiences, I've come to dreams and aspirations that aren't of the typical variety.

My thinking is account for all expenses and hope that it being a new build will save me some time before having to perform cap ex style repairs (I do have about 50K cash on hand after the closing of this property so i feel comfortable with handling curve balls for a few years) New Build structure and neighborhood/school gives me hope that in 30 years i can still command a decent rent on a property 30 years old instead of trying to take something from 1970 all the way to 2055 and still get decent rent out of it .