Milton Rivera
Two Properties on a Single Lot - Financing Options
Hello BP,I have been running into a recurring trend in searching for deals. Two properties located in a single lot. The primary issue with this is that financing sources (traditional and hard money lenders) are havi...
Andrew S.
Late rent charge unpaid in Cozy
I recently had a tenant pay partial rent on the 4th (rent is due on the 1st with a 5 day grace period). They had asked if I'd drive by to collect a third part check but I told them I don't accept third party checks. ...
Jeff Mauerman
Working with a land bank
There are a number of homes in my area which are owned by a county land bank authority. They are all distressed properties, ranging from roof leaks and crumbling plaster to empty shell (meth house that has been stripp...
Eric M.
Question about Mortgage Docs and Recording for Comm Mortgages
This might seem esoteric but it has to do with an important investment I have made and I wanted to see if someone could answer my question.I am in Chicago but I am not sure if this is a local thing or not.I am unsure ...
Kristine Eickman
Do you allow child support as "income"
I have an applicant that only meets my 3X rent income requirement when she adds in her child support payment. And meets it only by $50. Do you allow people to use child support as "income"?Her smart move report came b...
Arthur Banks
Renters Insurance
I've read some posts on suggesting renters get insurance, but does anyone REQUIRE insurance if the tenant has a charcoal grill on a balcony?
Connor Corkrin
Security Deposit Bank Account for Tenants
Hey again all,So I'm just finding out that there is a law requiring tenant's security deposits to be held in a separate account at 3% annual interest. Is this true?If so, are these types of accounts common with local/...
Erika Williams
New Househacker/ Need ADU Help
Hi, new-newbie here! First, I’m so excited to be in this space and for what RE holds for my future. I recently started binging BP, Rookie podcast, books, YT, all the things. Currently in a field I’m unhappy in and I f...
Nick Brubaker
How important is it for your GC to be licensed and insured?
Today is my last day of due diligence on my first flip property. My real estate agent referred me to an experienced GC. I like him and am confident he is reliable enough and would do good work, but I found out today...
Shawn Dandridge
LLC For Every Property
I plan on buying several properties for rent and fix and flip soon. The main thing I am running into is how to structure the company for rentals. I have heard I should put each property in its own LLC and then I have ...