Account Closed
Typical funding requirements for a 4-plex?
So I looked up the highest rated loan officers on Zillow in my area and I sent them all emails asking what the general requirements are for purchasing a 4 plex; I got quite different answers from all of them!First, fo...
Mikael Winkler
Legality of Wholesaling - Ohio
Hello everyone!I have a question regarding wholesaling in Columbus, OH. Through my research here on BP and elsewhere, the topic of wholesaling seems quite controversial and murky. It seems like the main sticking point...
David Smith
Starting a 1031 --- timeline
So i am selling a multi family and will use its proceeds to buy another one close by. If I want to do a 1031 ( any reason I should not? ) , when and what shall I do?in the selling contract , shall I note it is 1031?i...
Timothy Eaton
First House Hack - General Renovating Questions
Hi all,Just purchased my first home which I will be house hacking. The home has a separate entrance to a daylight basement that I will be renovating to convert it into a second unit. Currently, the house is on one wat...
Joe S.
BOI injunction reinstated again today??
Someone just emailed us and said the BOI injunction was reinstated again today by the 5th circuit. I did not want to simply rely on one source so I figured there are people here that would be up-to-date if such a mann...
Kaitlyn Beard
Will the seller need to put flooring in for the appraisal?
Hey all, I know for VA and FHA, that flooring should be within a SFH for the appraisal to come back good to go. However, I showed my agent a property that needs some work and that I wish to rehab myself. It does not h...
Spencer Boerup
Repair requirement or tenant preference?
I just had a new tenant move in (2b/2ba townhome, modest quality). They were far and above the best candidates but are only signed for 1 year as they just moved to my area for school and they want to maintain some fle...
Grant Thompson
Commercial Lending for Syndications
Hello BP,My business partners and I (the Managing Members) have raised capital through a syndication to invest in multifamily properties. We are having issues finding a lender offering commercial loans that meet our n...
Bret Halsey
Subject-to on a 1031 Exchange
I'm speaking to an owner who bought a property through 1031-exchange and has a 2 year required hold period due to owning it in an LLC and being a "related party". Could I purchase this property subject-to the current ...
Michael Stutelberg
Governor halt on evictions
Have you reached out to tenants now that the governor has called for a halt on evictions? Have your tenants started reaching out to you that they cannot pay from covid? What resources are you sending to tenants for re...