Logan Guerrero
Property maintenance question
18 March 2024 | 4 replies
Looking at maintenance through the lens of a property manager what do you do when it comes to faulty windows, roof, and other exterior problems?
Nana Ofori
Question about owning an investment property
21 March 2024 | 6 replies
I usually start with something like this:“We require a 550+ credit score as well as a current job paystub or a co-signer who meets these requirements.
Michelle Mayfield
Which states/markets would be the best to do seller/owner financing in and why?
22 March 2024 | 3 replies
This is a pretty weird question, I know, but I am curious.I get that you can do deals pretty much anywhere, and there are good deals all over the country, but I don't believe that the markets are equal in this regard.For example, if the seller has the ability to look at your credit as an investor (which throws out one of the sole purposes of doing a seller finance), versus states/markets that don't require that as much, I would like to know the states/markets where owners checking your credit history is not going to be prevalent in a deal, assuming the seller is willing to do this kind of deal with you.For context, yes, I am a new and aspiring investor, and due to certain circumstances, my credit is currently not the best, but I don't want that to stop me from investing in real estate (which is why I'm leaning to using seller financing).Please no answers saying that I should just raise my credit score and get an FHA/Conventional loan, because I am currently working on raising my credit, but I can't give a time on when my credit will be "back to normal" again, which could mean I could be stuck on not qualifying for a loan for the next couple of years (ain't nobody got time for that).Thanks for the help!
Rob Trufant
Advice Request for First Time Homebuyer Looking to House Hack in Pittsboro, NC
22 March 2024 | 11 replies
I have checked rental comps on the BP calculator and have found that homes in this area with these stats can rent for around $1100, but this is nowhere close to the required mortgage payment (Realistically I think I could have 2 tenants paying at least $1000 per month each, though this calculator has me thinking otherwise).
Mary Jay
When would you buy a property with a negative cashflow?
22 March 2024 | 88 replies
These markets are revolving doors with properties being resold every 2-3 years to new green investors looking for cash flow, who don't realize what it costs to maintain a property or that their budget of $50/month for maintenance, repairs and capex is not nearly enough ($300-500 is more like it, that's why rents under $1,500/door typically have no margin for error).
Samantha Casillas
Newbie Investor in Minnesota
22 March 2024 | 9 replies
Stay flexible and open-minded as real estate investing requires patience and adaptability to changing market conditions.
Alan Phan
Purchasing 2nd home as an investment for parents - suggestions/advice needed
22 March 2024 | 4 replies
We would need to verify that you are able to meet the DTI requirement since we will not be able to use rental income to offset the mortgage debt.
Mel-Drick Green
Starting Our Buy & Hold Portfolio
20 March 2024 | 4 replies
And we like the idea that maintenance shouldn’t be too much of an issue for the first couple of years.
Christine Garnier
Broker Not Responding - Birmingham AL
22 March 2024 | 5 replies
Laws governing real estate agents are left to each state to determine such as what counts as proper paperwork for a transaction and even how long a broker has before they're required to get back to you.
J Newman
Loan from 401k when retired
22 March 2024 | 5 replies
Failure to repay the loan according to the plan's requirements could result in penalties and tax consequences.Tax Implications: While 401(k) loans are generally not subject to income tax or early withdrawal penalties, there can be tax implications if the loan is not repaid on time or if your husband defaults on the loan.