Jessica Flint
How much to calculate for repairs/cap ex when I do all the work
My husband and I own 5 properties (4 singles and 1 fourplex). We do most all of the labor ourselves. We're very handy! Does the 5% for repairs and 10% for cap ex include labor? I assume so. But if we do most of t...
Stoudamire Davy
Proof of Funds Letters
Does my pof need to show enough cash for the full purchase price. i have funds but only enough for the down payment would that be enough to show ?
Andrew Bissada
PMI amount inaccurate?
My lender gave me a quote on a 10% down on 300k. The monthly PMI was $45. I mentioned this to a friend of mine and he thought that was abnormally low. From my recollection, I thought it was low as well so I googled it...
Chris Destefano
Loans with low interest, for flippers?
Hello, I am currently serving active duty in the Navy and I am about to get out and begin my journey in real estate. I am currently trying to find a low interest loan that will help me buy a distressed property that I...
Miguel Rubio
How do you track improvements in units
Hi fellow BP members, We recently purchase two multifamily buildings, and we need to renovate the kitchens and baths, and some others upgrades on almost half of all the units.we are using a property management for bot...
Stevan Radojevic
What if not all units currently rented?
Greetings! How do you approach multi-family properties for sale where some of the units are not leased/rented? For example, I am looking into a 4-plex and only 2 units are rented. How do you approach this? I need your...
Sonja Wilder
LLC for Rental Property - address for place of business
Hello - I have a rental property on a lake in Virginia. I own it free and clear - no mortgage. I have been renting it out for 5 years. It was suggested that I should hold the property in an LLC. I created the LLC las...
Joyce Ong
Managing Vacation Rental for Other
I am helping my boyfriend to rent out his property for vacation rental. I listed the property on Airbnb, VRBO and booking.com under his name. I contact and arrange cleaner and handyman for the rental purposes. I also ...
Bowman Klinkenberg
Shared laundry but without "common area" meter
I recently purchased a duplex with separate electric + gas metering for each unit. I'd like to add shared laundry in the basement, but don't have a third "common" meter for either of those utilities, so I'd have to ho...
Rick N' Heather
How do we correct the County Records on our new rental house?
Question for the BP populous:Situation - My wife and I recently purchased an off-market SFR with tenants in place. During the appraisal process for the mortgage, it was identified that the home was actually 218 sq ft ...