Bienes Raices
Problem with security deposit account, and Bank of America
I set up two business checking accounts for my LLC--one for the rents,etc. for the property that will be held by that LLC, and the other for just the security deposit for that property, as my state's law requires. (la...
Kyle Crane
Investment property vs second home
Looking to purchase our first property, but unsure how to classify it. I am intrigued by the idea of only having to put 10% down for a "second home" and having more cash in hand for some upgrades etc, but are the tax...
Anastasia Papyan
Teneant got the gas shut off, thats why no heat. Pipes bursted. What to do now
Hello! I need an advice from an investors community. We had a really cold winter. One day the maintainance guy came at the property and discovered standing water in the basement. Then he discovered lots of bursted pip...
Sean F.
Short sale strategy
Hello fellow BP'ers,
I'm looking for some guidance and advice on a short sale opportunity that was presented to me.
My parents next door neighbor approached me recently that he will be listing his property within t...
Dan McGrew
Prospective tenant says 3x income requirement is not legal
Had a prospective tenant share the article below. This seems bogus but wanted to see if others had similar thoughts:https://boundlessestates.com/new-law-starting-july-1st-landl...
Account Closed
HELOC on non owner occupied property
I have a 3 unit in northwest Ohio that I bought with cash at tax auction, needing $60k in rehab. Current Reserves I have about $20k. One of of my rental units SFR appraises at $50k. I own that unit free and clear. But...
Pranav Parikh
Insurance coverage in disaster zone - asheville/swannanoa/black mountain
Hi everyone, I have a property in Swannanoa that was affected by the hurricane. I have Proper insurance, tailored to short term rentals. As many STRs in the area, I have been dealing with cancellations and loss of rev...
Zhihan Wan
Month To Month Rent After Extented Lease
Good morning! Happy Friday! It's me again. We have one rental home has an extended lease with the tenants till the end of August. The tenants have a new home building nearby and the house is supposed to be closed in S...
Balazs Sipocz
"Contractor's fee" percentage in a fixed price remodel contract?
Hello, Is it normal to have a "contractor's fee" defined in % for a fixed-priced house remodel contract?Additional BackgroundContractor says there is a lot of "unknowns" in the project. When asked what happens if some...
David Rutledge
Conventional financing in Florida
Hi Everyone,I was hoping to get some information regarding financing in the state of Florida. My wife and I are interested in buying an investment property in Orlando. We are recnetly married.We are hoping to put only...