Chris Garrett
Conventional loan app fee
I’m doing my first buy and hold purchase for a long term rental. I’ve received my loan docs back from my (conventional) mortgage lender and he’s included a $995 loan fee. This seems a bit excessive to me. Also includ...
JD Martin
Pre-paid rent - taxable in the year accepted or year applied?
Good afternoon all!Before I do my taxes, I have a unit in which one of the tenants (a college student, parent paying) prepaid their rent for the first 6 months of 2016 in late December. Should I claim the income based...
Angelina Grace
Do I really need a realtor? Am I missing something?
So Im about to go view a property I probably will buy all cash. The seller listed it on craig's list and they dont have an agent and neither do I. I do however have a prepaid real estate attorney that I can use. Does ...
Rachel Odumu
Looking for all things 203k in Northern Virginia
Hey everyone,I have recently been approved for a FHA 203k standard loan of 650k. I’ve found a property that I would like to rehab in the Old Town Manassas area of Northern Virginia. I am wondering a couple of things…...
Brandon Sturgill
Do You Consider a Builder's Risk Policy Entrance or Holding Cost?
Seems it has to be in place prior to closing, so I considered it an entrance cost...any opinions?
Stephen Igbeka
Approximate cost of closing fees/Worcester mass
So I went to my first loan/mortgage specialist to feel out what the fees might look on a 200k property.Basic info: Property purchase price 200,000 5% down= 10,000Loan amount 190,000Closing cost estimate = 6,600Total f...
Dan Handford
Alternative Options for Pool Phones for Multifamily Properties
One of the requirements to have a pool at a multifamily property is the accessibility of a POOL PHONE.All of our properties currently have a WIRED pool phone and we pay $40-50/month for that line that rarely ever gets...
Zhenyang Jin
Turbotax: City Transfer Tax when depreciation
Hi Real Estate Veteran,I am using turbotax to calculate depreciable basis for my rental property. After evaluating my situation, I need to add the cost of City Transfer Tax into depreciable basis. However, I don't kn...
Michael Dunn
The " Re-Use " of a 20 Year Term HELOC ??
Good Afternoon,I need some help in Understanding my options regarding a HELOC that I just got approved for , and am set to sign the Papers for this coming Monday The HELOC is for 20 years and is a $20,000 Loan ( the...
Andy Ridder
Suggest me something.
I owe $1720 on a loan I took out from <a href="klickcredit.com"> klickcredit.com </a> in June. Recently, a Mr Fabian who says is an attorney for klickcredit has been calling me, the clubhouse in the neighb...