Joe DeLuca
Septic Install - Deductions/depreciation
Good Morning everyone,So, here's the scoop, I'll be closing on a triplex (first deal, house hack, Hunterdon Co. NJ) within the next month. We are replacing the old (really old) septic system via a FHA 203K loan after ...
Jesse Aizenstat
Long-Term "Storage Mode" for Grandmas House
It is with some emotional sorrow that I report that my 96 year old grandmother just can't live in her house anymore with her caregivers. She's had a good life and it will continue at a retirement facility, a few minut...
Jim Bentley
Handling SDIRA in a divorce
Does anybody know how a SD IRA which is invested in an LLC that owns several rental properties is handled in case of a divorce?Asking for a friend...
William Carson
Bank REO, needs new septic. Scenario(s) and advice please
This is my first contracted deal. Welcome to the game Bill!The following story involves a bank owned, 3 bed, 1 1/2 bath 1 car SFR ranch with full basement, 1200 sq. in the beautiful Poconos. Bank has held for well ove...
Joseph Sahar
How to Structure Offer w/Contingencies for Commercial Development
I have been in discussions with the listing broker to purchase a national historically registered building. We will need to do some MEP due diligence work to better understand what the renovation costs will be. This w...
Rohan D.
Septic tank - red flag?
Hi BP folks, I am about to make an offer on a house when I found out the house has a septic tank. I do not know anything about it, but after doing some basic reading, it looks like an expensive affair.
Firstly, shoul...
Lucien Gautreau
RV Park - Contract & Due diligence advice!!
Hi BP!
I am currently about to sign a contract after negotiating a deal on a RV Park. (40 Pads)
After reviewing the contact, I saw that the Earnest Money is $10,000 for a close to 300K purchase. Just seems a high i...
Patrick Martone
What can a newbie do to acquire a house in a competitive market
What can a new investor do to acquire a house in a competitive market? Time is on my side as I am currently unemployed, but have cash and a partner with income.
RJ D.
First time investor - Chicago
Hello,I am looking to purchase my first investment property in Chicago. I would like to hear professional opinions for a first time investors financing options. I am looking to purchase a 3-4 plex/flat. My research po...
Karin Crompton
Never heard this before: septic inspection of an REO is a waste of time????
I just got an offer accepted on a bank-owned property that has a well and septic, and I have inspections on both of those as my only 2 contingencies.
I just got off the phone w/a company that told me they can...