Eric Gorostiza
New member, starting out with 1st investment property in Vegas
Hi everyone,I've been listening to the BiggerPockets Podcast for a few months now, figured I'd finally sign up. After being laid off from my tech job 2 years ago, my outlook on my financial aspirations changed, and I ...
Peter Tsam
Stripmall Solar Plan NNN - Value Add
I've been putting together a deal for a while. Found this nice ~40k sqft sqft stripmall. Plan on 1031ing into it purchase price of 11m with about 3.5. down. 8% cap rate @ a 6% rate. Newer building built less than 20 y...
Marlon Long
Exit strategy for Subject to agreement
So I have a deal that I am evaluating. The owner just wants out of the property and wants what he owes on the mortgage. (35k) The property is worth about $65-70K fixed up. I need to put about $25k into repairs. I ca...
Michael Alegria
Real estate appraiser duties
I am in the process of a mortgage refinance.
The refinance mortgage amount is $100,000. The appraisal amount is $245,000. I paid $700 for the appraisal.
. The appraisal was “subject to” installation of water heat...
Amanda G.
K-1 help needed on mortgage note
I sold a property with a partner with owner financing, and I need help figuring out the K-1 for our LLC. This is the only asset we have in the LLC, what kind of income are the mortgage payments? how do I record the va...
Brandon Craig
Tax implications for owner financing
Hi all. I was wondering if someone could explain the tax implications for both sides of an owner financing deal for a rental property? I am just starting to research this financing strategy and I'm wondering how muc...
Account Closed
Owner Financed Deal- Worth It? And Other Q's
The numbers:
2 bed 1 bath in a 4 unit building
Asking price: 90k
Taxes:~4k
Monthly Assessment:$50
Can be rented for: $1000 a month
This will be the first deal I would be doing as an owner financed deal- actually this...
Jim Goebel
Using a HELOC; impact on Credit Score ? Bummer
We use MINT.com, which is nice.According to MINT, what is largely dragging our credit score down (it's a 758) is credit utilization.That's a few credit cards here and there but predominantly our HELOC is 60% utilized ...
Angie Menegay
Expenses associated with a wraparound mortgage
For tax filing, where would expenses associated with a wraparound mortgage be reported? On Schedule A? Some examples would be interest paid to the underlying lender, note processing fees etc.
Thanks,
Angie
Debbie Barrows
difference between subject to and lease option, and lease purchase
Can someone explain the difference between the three? I thought all three could assume the existing financing.
Thanks