Emily Cole
Two quotes for one job; Maximize expense for taxes or pay less?
Let's say you have an expense that is a repair. You have two different quotes for two variations of the repair job. For context, your cash flow/income is small. One quote costs more than the other. Is it better to max...
Victoria Hartcorn
Cap Gains on Primary turned Rental - am I wrong?
Thanks in advance for reading. We are selling our condo and our accountant insists that we are not exempt from capital gains.
We purchased in March 2016 and lived in it 3.5 years until it was rented out for only 18 m...
Logan Splinter
BRRRR Calculator Misconception
For all of you BRRRR calculator masters out there, I have a quick question for y'all.When it comes to "Total Cash Needed at Purchase" I believe this is deceiving. At first I was thinking all i needed for actual cash t...
Chris Ono
10% Closing Cost in Memphis?
Hi everyone,
We're looking to purchase 2 turnkey properties from Memphis Invest, but the mortgage company that was recommended (not by them, but they work with them regularly) is charging 10.1% to purchase price in c...
Clayton Silva
Recourse vs Non Recourse: A common question I get
"Is this loan non-recourse". That question is often better answered by asking what you mean by that. Common misconception is that DSCR loans are non-recourse because they can close in an LLC. However, even DSCR loa...
Vaughan Moody
Is this reasonable?
Our tenant accidentally broke a kitchen cupboard door. It snapped off vertically down the middle when he went to the kitchen in the dark in the middle of the night and when he turned to walk back, he walked into a lit...
Patrick Philip
Does anyone have a sample wholesaling contract?
with escape clause. And after that, I do a double closing, right?
Andrew Adamany
Considering LTV and LTC for private Loan
Hey everyone, I have a question regarding LTV and LTC with Private Lenders:When a Lender looks at both the LTV at the ARV number AND the LTC, are they going with the lower number of the two? For example:Max LTV to qu...
Tashee Tillmon
REI in Pre foreclosures
Good afternoon. I hope someone can help me. When going after pre foreclosures and it gives you default amount and the judgement amount of a property, do we factor in those #s separately?
Ex.
ARV x .70 - loan balance...
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 ...