Jon Christian
Lending hard money loan, need advice
Hi all.
My real estate agent buddy, whom I've known for a long time, wants me to loan him $7500 for a max of 45 days to pay off his contractors while his investment property flip closes. I don't have any reason to d...
Connor Johnson
Sheriff Sale With Federal Tax Lien
Hello,
Big time reader, first time poster. I am looking at a property in Texas that is coming up on the Sheriff Sale this month. It is coming up for sale because they haven't paid the local school tax. It had a Fed...
Samuel Guan
Seeking Advice: Tenant Wants to Terminate Lease Due to Mold Issue
Hi everyone,
I'm new to this forum and seeking some advice on a situation I'm facing with my rental property. Recently, my property manager informed me that a tenant's attorney contacted them, expressing the tenant's...
Seda Howe
Downpayment option from 401K
Is it a good idea to take out a loan against 401K for downpayment on a first property? Thank you!
Sean Crean
Roth Ira
I have a Roth Ira, and I was thinking of using some of my contributions for a down payment.I know you make withdrawals if your are a first time home buyer, which I did for my Condo.But I also understood that you could...
Joe Blaine
Prepayment Premium - What is this insane Fee!
Hello,
First post here, but regularly scroll through BP for it's great real estate advice!
I bought a 1.4M, 7 unit property in Revere, MA 4 years ago, and used FHA Multifamily loan 25 year term, 30 year amort, 25% ...
Marsharen DuPont
401K/403b retirement account question
Hello All!My name is Marsharen and I have a question in relation to retirement accounts. If possible, how would I go about using funds from my 403b as a down payment toward my first property (which will be owner occup...
Johnny Galvan
How fast can I sell a house after purchasing it?
Hello All,
I've been doing flipping for about 3 years now and always payed cash. I will be closing on a single family house soon which I received a loan from a 2nd tier finance company. The mortgage officer who ...
Ramaiyer Ramesh
Questions on property to be bought using 1031 exchange
I understand there is a time limit of 45 days to identify 3 properties; and 180 days to close. I have few questions on this. 1) the final replacement property should be from these three ? some where I read that value ...
David Jiang
How to document cash payments to contractors?
What would be sufficient proof that a cash payment I make to a contractor is an expense for a project? I always have trouble with this as I do a lot of flips and have a few people who moonlight for me on their weekend...