John C.
Tax implications on buying/selling defaulted paper?
I know nothing about notes. I have the opportunity to buy a non-performing note at a discount. The note was in a pool sold by a portfolio lender to a "loan workout" group at a substantial discount. I know the property...
Tony Gatto
Need help for my seller to pay of mortguage early
Hey gang.
I have a seller that wants to terminate his mortgage early. I am not interested in a sub2 as i have a few buyers for the property already.
However he does not know how to pay off his mortgage...
JP A.
Need Advice on Refi'ing Two Homes
Hi, I need some advice. Here is my 'situation:'1st home is currently rented out to a tenant. Their rent pays my mortgage and taxes and I clear an extra $200 per month from that property. I still owe money on my mortga...
Daniel H.
Seller Financing
Looking for more details on offering seller financing with the sale of my property. I would set up the loan to be secured by the property I am selling and if the buyer got behind in payments by a certain amount, I co...
Tom Mendez
Total Owed on Pre-Foreclosure
Have a home in arrears $84,000. A total Principal Balance of $378,000. Just want to make sure that I am adding these together to come up to amount currently owed. ?
Benjamin Cowles
What happens when collateral is in excess of the loan?
If you use hard money for just a portion of a purchase or say the rehab costs would they use the entire property as collateral ? Or in general is there a way of minimizing your collateral to only what would be necessa...
Myles Ngumezi
New Yellow Letter Lead Question/Potential Deal???
Hey BP! I have a newbie wholesaler's scenario!So I've been yellow lettering my butt off and I received a somewhat interesting lead. I have PATLive setup so here are some of the criteria from the lead:- Asking Price (f...
Jessica Prince
Purchasing from a relative to avoid them losing their home
Hello,
Is it possible in MD to purchase a residential house in anne arundel county that had entered the 'pre-foreclosure' process before the COVID eviction moratoriums took place? No other legal proceedings took pla...
Shay Kent
Do we owe capital gains? I disagree with my cpa. advice needed, thanks!
We lived in our primary home for 3 of the last 5 years. We rented it out for a year and then sold it. Do we owe capitals gains on it?Our CPA says that as soon as we rented it out it became a business and we have to pa...
Shane Gaboury
15 Year or 30 Year Loan? (Cash flow and passivity is the goal)
Hey BP Familia!
I have a quick question. I am between a 15 year note and a 30 year note for a buy and hold rental.
a.) 15 year loan PITI + HOA = 1587 at 3% interest rate. (Principal pay down portion is $790) with...