Philip Aleman
Transfering property to an LLC
A friend of mine was instructed by his mortgage lender to close on a property in his name to get a better rate. After closing he transferred the property to an LLC owned by himself and 2 partners. Now he is having iss...
Susan Carman
Does REO Properties = No Liens on the Property?
Hello BP Peeps,Can someone please clarify, if REO Properties mean the bank has removed all Liens and/or money due on the property?Or does it simply mean the property did not sell at auction and the bank still owns th...
Tom C
Your opinion on this deal
4 properties, SFR's in a fairly good location. Asking for the package $100K.
1st - SFR 3 bd 1 bath - rents currently $475 month. 6 yr tenant
2nd - SFR 5 bd 1.5 bath - rents currently $450 month. 8 yr tenant
3rd -...
Vincent Hearn Jr
What's the best approach to this motivated seller?
Good morning. Right now my real estate priority is finding wholesale and rehab deals but I motivated seller responded to my marketing and to me, in my limited REI experience, the only exit strategies for this deal wo...
John Franklin
Best steps to convert inlaws home into a rental
In 2020, my wife and I put the down payment and are the Title holders on my in-laws home near us. There is discussions of them potentially moving and was wondering what the best steps are to convert it into a rental ...
Quinn McLaughlin
First Post / Introduction
Hello,My name is Quinn, and my brother Dillon and I have co-owned our single family home (4 bed/ 3 bath) for almost 3 years now. It was our first home purchase after moving out of our parents house. It is located in t...
Michael Narup
Time it takes to transact a "Subject To"
Hi BP community, I am following up some Pre-foreclosure leads and would like to know how long roughly it takes to transact a "subject to" agreement. I know it is generally quicker than going out and getting a loan, bu...
Jacob Schurer
Rent or Sell Current Primary
Hi all,
My wife & I sold our duplex in 2020 and used ~ $60k of that as a down payment on a town home for our growing family (purchased for $345k, 30yr @ 3.5% in 2022). With 2 kids and a third in the near future,...
Aaron Horn
How does seller financing work?
Hey everybody! So here's the scoop. A friend of mine has enough cash for a full 20% down on our first property with plenty left over for reserves and upgrades. We found a decent duplex that could use a little bit of w...
Sebastian Nadal
Looking to House Hack in Chicago for the first time
So, earlier this year I bought a 2 bedroom / 2 bathroom condo in Chicago. This was my first time ever buying property. The condo is in Rogers Park. I'll admit, I might've bitten a little more than I could chew, but I ...