Josh Darley
1031 Exchange Questions
BP,I'm having a hard time understanding the true requirements for a 1031 exchange. I'm hoping someone here can give me some guidance particular to my situation. I purchased a condo in 2018 for 120k and currently owe...
Lindsey Buxton
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Josh L.
Upgrades- Piecemeal or finishing it all at once?
I've got a property in a good location, but the kitchen needs updating and the carpet will be changed to either a laminate or hardwood.I know I'll need to do the flooring update when the tenant moves out- I saw the ca...
Doug McLeod
Quickbooks - how to add previously acquired asset and accumulated depreciation
Hi BP folks - any Quickbooks DIYers out there?I just started doing Quickbooks effective 2014 and got some help from a bookkeeper to do the journal entries from the HUD1's to add the rental house assets I purchased thi...
Joseph Scorese
Mortgage Rates Approaching 5-Month Lows
Mortgage Rates Approaching 5-Month LowsMortgage rates had another great day, with most lenders maintaining or improving upon yesterday's 4-month lows. Given that we'd have to go back to May 8th, 2015 to see better ra...
Oleg Shalumov
46 units under contract in Cincinnati
Wanted to share ... just signed contract for 46 units in Cincinnati this week. Some information on the property ... It is a 46 units Class C+ apartment building located in Cincinnati Ohio, the property is 87% occupied...
Christian Estrella
Take advantage of FHA or not
Good Afternoon All,Before COVID, I was looking in the NJ (Elizabeth and Newark) market for a multi-family property. I wanted to take advantage of my FHA and house-hack as an owner occupant. My credit is at 650, due to...
Joshua McKenzie
Two Houses on the property. Mortgage guy says it won't pass FHA
There's an acreage with two houses on the property. It's rural. My mortgage broker says that there is almost no chance that the property would go for FHA simply based on comparables. But from everywhere else I've bee...
Ivan Jouikov
Should I make competitive offer if property is already under contract?
There's a property that I really liked (from description) but it went under contract before I got a chance to see it. I asked my Realtor what about making a competitive offer and he said it's sufficient to let the li...
Shane Bishop
HUD Listings: PROS VS. CONS
Hello,My wife and I found a home we like on www.hudhomestore.gov that seems like a good deal at face value for a potential flip or long term rental, but we have never purchased a home from them and wanted to find out ...