Kevin Macdonald
how should i refinance my first investment deal to pull money out
I purchased a investment property which was never completed. Because of this I had to use equity from my primary residence to fund the original purchase plus cost of finishing the project because no bank would giv...
Ken Boone
Laws/Rules concerning ESAs and STRs
So I don't want to turn this into an argument of whether or not someone should allow pets in their STR. We have decided that we do not allow pets in our STRs. My daughter suffers from severe animal allergies. Now we...
Garen T.
Feedback on a Covid-19 tenant letter please!
I have a duplex and a SFR. All rents (from 5 different payers) gave me 100% rent payment this past week. I'm thinking of sending the following letter to my tenants. I have not been in communication with any of them fo...
Chris Mason
VA Loans / "VA Jumbo" - loan limits going away nationwide.
https://www.housingwire.com/articles/49421-bill-eliminating-va-loan-cap-signed-into-law
The Department of Veterans Affairs can now back loans that exceed the conforming loan limit, as a bill eliminating this cap was ...
Amir M.
Lender asked for tax returns in prequal process. Is that normal?
Looking to buy a multi-unit property in the DC area. Some properties require a prequal letter just to see the property and my realtor referred me to his lender to provide the letter. The lender asked for tax returns ...
Redgy Saint-Germain
On a 203k loan is it common to ask the contractor for receipts?
I would like to compare projected materials cost vs actual cost for my current 203k renovation to aid me with my future offers and estimating ARVs. I feel nervous about asking my contractor for receipts because I woul...
Account Closed
First Mobile Deal Help
About 2.5 acres with 7 mobiles. 2 large storage buildings and room for 2-3 more lots but no extra hook ups. Septic, electric and well water. Landlord owns all mobiles.
The existing homes are in bad shape and the are...
Mike L.
203k loan - do I need a consultant?
I am thinking of getting a 203k loan to buy and fix up a house that I will live in. I have seen ads for "203k consultants" who will walk you through the process. Some are also general contractors who will do the reh...
Benjamin Sol Ignacio
W2 --> 1099 : Real Estate Professional - Tax Status - Does it make sense?
Good Morning!I currently work in Land Development as a W2 employee making $200k+ a year. I had spoken with my previous CPA about possibly becoming a 1099 for my current employer to achieve Real Estate Professional sta...
Scott Scharl
Help: ADA and Assisted Living
Hi BP,Can anyone explain how the American with Disabilities Act applies to an assisted living home? We are converting a SFR into a private, 10-bed assisted living home (our first project of this type), and I can't fig...