Maurice George
HUD willing to accept lower for Owner Occupancy than Investor?
Hello BP Pros, I am looking at a HUD property a few days ago. This property needs very minor (less than 3K work). It is considered a upper middle class neighborhood. This property's asking price is 245K (the comp is i...
Jay Roque
How do I get out of a hard money loan?
The property that I rehabbed hasn't sold yet in which I had to extend the maturity date with my Hard Money Lender. The problem is that I have to pay an additional 1.5% monthly on top of the annual interest payment whi...
Nick D.
Refinance Lock Period & Extensions
Im going through a Refinance that started December. I asked the lender to lock in my rate which was locked in for 30 days since the lender said we would finish the refi before the end of January.The communication duri...
Account Closed
Item missing from due diligence materials
If an item which was requested during the due diligence period is missing from the due diligence materials and isn't provided until the due diligence period is finished, does that automatically extend the due diligenc...
Jackie F.
1031 Exchange Disrupted by Hurricane
Hello BP,My 45 day selection period was disrupted by hurricane Irma. Furthermore, the property I was getting ready to close on last week may fail re-inspection in which case I may have to move forward with another pr...
Marco G.
Make Ready Costs: Repair or Improvement?
Just spent a decent amount of coin doing a make ready during a vacancy. Come tax time, how do you generally categorize these expenses? Two biggest expenses were flooring (improvement) and interior painting (repair). ...
Jim Baum
Between tenants "best practice" ideas?
Hello,
I've managed to acquire a few properties over the course of a year, and I'm now faced with my first turnover/vacancy. Would you mind commenting on some of the ways to minimize expenditures and other '...
Carey Branam
How to move people out upon completion of lease
If a landlord chooses not to extend the lease after the initial year is up how do you get the tenants out? Am I required to continue renting to them? Is there wording in your lease that makes it easier to move peopl...
Christopher Brown
1031 Deadlines Tolled until July 15
Looks like this was announced end-of-day yesterday. If your ID period or 180-day close period falls between April 15 and July 15, the deadline is tolled until July 15 (and I'd expect this to be extended again down th...
Philip Montalto
Newish reaidential investor
Hi. I am trying to place an offer on a HUD property. Anyone have insight into the process and timeline? Also curious about making offers as an investor. Looks like I have to wait for the extended period? Thanks in ...