Account Closed
What percentage of tenants are good
With the recent article claiming 62% of Americans have less than $1000 in savings, how viable is a business that relies on people to pay monthly rents. If for the sake of this question we divide prospective tenants...
David Transou
First time flip. I need advice
Hello, My wife and I are in the process of looking @ purchasing our first REO property in Southwest Florida to flip. We were pre-approved. However, we want to do this wisely. The home is 59,900 Real etate agent said ...
Bryan N.
Tax question regarding converting primary into a rental
My primary residence will be paid off in less than two years. At that time, I am going to purchase another primary and rent out my current one. The house will need new windows and a roof within the next five years, ...
Kristen Watts
Held House for a Month Now Tenant Doesn’t Want It
Hello BP members. I collected a $1125 deposit for a single family home to hold a house for a prospective tenant. It’s been a month since she applied and a few weeks since I got the deposit. Her move-in date kept getti...
Adam Percento
Out of options Dead Deal?
I just finished a walkthrough of a absentee owned SFR3 bed 1.5 bath 1488sqftDecent comps imply ARV=$60k-$80kRent rates for similar houses in that neighborhood=$950-$1100Everything on and in the property needs to be re...
Jonathan Thrasher
first flip failure, embarrassment, and lawsuits. yay
I guess this is more of a venting post than anything. 2 years ago I bought my first house to flip. Here's the original post. I stopped posting after everything started going downhill. To make a VERY long story shor...
Mariela N-Tyler
Sell It or keep it? What should I do?
Hello BP Commumity,I have a dilemma about selling my one and only investment property (as of right now...I plan to get more properties in near future) I acquired it in 2001 for $138,000, in Dearborn Heights,MI. We too...
Sinead MacFhionnlaoich
Tenants want a rent reduction
My tenants have rented the property for 2.5 years and have always been good tenants. I rent the property about at market rent, i don’t include certain utilities in the rent cost (water, electric, gas), i have laundry ...
Seolhyun Lee
No CPA has a good answer for my situation. How can I reduce my income tax with real estate investment?
I am in a situation that traditional tax benefit of real estate investment is not applicable.
My wife and I want to buy a primary residence and rental properties within next 3 months and hoping to make this investme...
Bill Andrae
Trying to get earnest money back on REO
I've had an accepted offer on a 4 unit in WI since Dec.
Purchase price=$160k Fully rented gross rent=$2900, repairs of $5-10k needed, earnest money=$3k
I had a local bank lined up that was willing to loan 80% on ap...