Joseph Chacko vellukunnel
financing a small mobilehome park with 100% POH
29 June 2024 | 9 replies
What is the status of that well?
Brett Riemensnider
How to give a notice to vacate to existing tenant
30 June 2024 | 5 replies
It likely will not go well because you are way too late on this.If you were a tenant paying rent would you want to just get a letter from the new owner telling you to get out with no prior conversation or warning?
Dean Valadez
Paying mortgage on a former personal residence turned rental under an LLC
26 June 2024 | 2 replies
Option 1:Pros:Simplicity: You avoid the potential complications of alerting the lender.Maintains Low-Interest Rate: Since your loan is at 3%, you continue benefiting from this favorable rate.Avoids Immediate Full Payment: You won’t be forced to come up with $45k immediately.Cons:Risk of Detection: If the lender identifies the payments coming from an LLC, they might call the loan due.Potential Consequences: If the lender enforces the due on sale clause, you might be forced to pay the remaining loan balance quickly.Option 2:Pros:Transparency: Being upfront might build trust with the lender.Possible Flexibility: Given your solid payment history, the lender might agree to the arrangement.Legal Compliance: You avoid any potential issues with violating the terms of your mortgage agreement.Cons:Risk of Loan Acceleration: The lender could still decide to call the loan due, forcing you to pay the remaining balance.Potential for Higher Payments: If forced to refinance, you might end up with a higher interest rate.Given the pros and cons of each option, but a cautious approach might be best:Consult a Real Estate Attorney: This can give you a clear understanding of your legal standing and potential risks.Evaluate the Importance of the 3% Rate: Weigh the benefits of keeping your low-interest rate against the risks of potentially having to pay off the loan early.Consider a Gradual Transition: This method allows you to continue benefiting from the low-interest rate while reducing the risk of triggering the due on sale clause.
Mike Auerbach
1031 Exchange - Why Bother You'll have to pay taxes eventually right? - Biggest Myth
1 July 2024 | 13 replies
The answer is obvious, thus it’s obvious to maximize tax deferral as long as you’re investing the money (and enjoying some of it as well).
Tasha Rivard
Should I stay or should I go now?
29 June 2024 | 9 replies
I’d also love to connect with a knowledgeable real estate CPA as well as a lawyer in the Orlando/New Smyrna area if anyone has recommendations!
Zhihan Wan
Negligence Issue With Tenant
30 June 2024 | 13 replies
I'd recommend periodically visually inspecting the water drainage flow every so often and advising future tennants that the a/c drains there, therefore please make sure that that sink drains very well at all times and notify you asap if it does not.
Richard Pennington
New to Wholesaling
29 June 2024 | 9 replies
Been doing my due diligence to find some homes in the Raleigh area that are pre-foreclosured on as well as foreclosed.
Alan Wolkov
Land Investor Course Recommendations
27 June 2024 | 28 replies
I saw on Seth's website he actually did a review of Mark's program and ultimately recommended it (while mentioning things he didn't like as well).
Lauren Christie
Inherited small apartment building and have a problem tenant
30 June 2024 | 6 replies
If you continue to own and manage this or other properties, you will find that tenant selection is one of the most important skills you must do well in order to succeed.
Rene Bee
1st major house rehab - 2 family
25 June 2024 | 10 replies
That someone you hire is your biggest risk and it is essential you find someone reliable.Research as many people in your local market that do the work you need and talk to them on the phone.