Sharukh Ahsan
Foreclosure Dilemma and COVID
14 March 2020 | 0 replies
The average sales price in the area is usually 850k-1m+ (~2000 sqft split levels/high ranches going in this range, our house is a 2600 sqft colonial)We are now confused if we should wait for the house to clear title or back out due to the potential wreckage covid19 may cause in the housing market.
Ryan M.
Time to max out credit lines?
15 March 2020 | 2 replies
to me there are credit lines and then there are credit lines.IE the vast majority have a heloc on their personal home or maybe a rental.. with a credit union local bank big bank etc.then you have credit Lines that are unsecured for business purposes .I have not heard of credit lines being frozen yet.. but I sure saw it a ton in the GFC.. and very few folks that get them on their personal resi or a rental.. actually read the fine print and therefor are shocked when they go to access their heloc for this deal they want and its frozen.our facilities are on one year terms with a mandatory 30 day rest per 12 months.. its been that way for me for 20 some years LOL.. mine are unsecured and of decent size i am not talking 50 to 100k..
Aaron B.
Investing in a Brazilian Favela, a COVID-19 success story
9 September 2020 | 32 replies
He owned and managed properties ranging from Section 8 housing to project housing in "ghettos" from Compton to Oakland.
Monty Bruckman
Renting by room in an HOA
24 March 2020 | 9 replies
It can range from the HOA doesn't care to there is no way any non-owner will ever live in the unit.If you are the primary resident and decide to rent out a room to a long term tenant, you are probably OK.
Kat Hem
Could I be sued for negligence?
31 March 2020 | 6 replies
Prove that you were X% responsible for said damages because of your negligence.Doing a hypothetical trial in my mind with your situation, actual damages might be somewhere in the range of $2000-$4000 (30 days of housing, some meals out, etc).
Paul Durham
Why aren't the leaders of Bigger Pockets addressing this crash?
17 March 2020 | 7 replies
Things were quite different as recent as last Wednesday (the last day we could have recorded).However, this Thursday, we will have a wide-ranging conversation about the economy and its impact on real estate investors.
Mark Feaver
WOULD YOU BUY THIS PROPERTY IN THESE TIMES?
16 March 2020 | 12 replies
We will also use the high end of your rent range.$2200 (rent) * 0.5 (50% rule) = $1100 expensesYou did not indicate your LTV so I will use 90% LTV in this calculation Higher LTV will make the cash flow worse but the ROI likely better and vice versus for lower LTV $2200 (rent) - $1100 (expenses) - $1060 (debt payment at 90% LTV) = $49/month cash flow.
Greg Gibson
Living in an Expensive City on a Smaller Salary (my story)
19 March 2020 | 5 replies
My son was 4 at the time, and boyhood-winter-energy is very real thing.I was ready for a change, and Grace wouldn’t let me get rid of the dogs, so I had to call an audible.As I began looking for places to live in our area, I realized that a 2-3 bedroom home was way out of our price range.
Adam Jernow
Tax Liens- Simple, helpful but too small to make a living
15 March 2020 | 1 reply
Also here Mobile we have a large sec 8 community and tax liens homes are modestly repaired and rented out to sec 8 ranging from 800-1000 per month while holding the tax lien.