Henley Smokey
Is an individual guarantor necessary when leasing to a company?
We have a condo we're looking at leasing to a company for their employee. The company will sign the lease, with the employee listed as the tenant. Do we need a guarantor listed as well? The company's legal counsel has...
How Smith
506c lender varifacation ?
has anyone had to have a lender verify proof of net worth for SEC 506c acredited investor guildlines ,,,,, If so how did u approach the lender to give you proof to verify what there net worth is without looking lik...
Pepe Catala
Promissory note and first lien
I hold a promissory note on a small RE development company managed by a friend. The note is ungaranteed and as far as I understand it's junior debt that could get unpaid fairly easily. Is it a standard practice to sec...
Dave Versch
Refinance right away?
Hi. I'm pretty new to real estate investing. I just purchased a rental for cash, using the HELOC on my residence (I got a better deal paying cash). I'm looking to refinance as soon as possible. Spoke with my bank,...
Nicole McCullough
REO Properity with Non-Functioning Utilities
Hello,My offer for my first REO property was accepted but I'm running into issues with the utilities. Normally, utilities would be turned on in my name for the inspection but I don't see how it can be in this case. T...
Jeff D.
Selling a house with a current one year lease
A neighbor wants to buy our California rental property in the city of Watsonville. We just signed up a new family for a one-year lease. The potential buyer says they will "assume" the lease for its term. If we do ...
Isa G.
10% Earnest Money Deposit
I found a solid on-market foreclosure wholesaling opportunity in Portage, MI, ran the numbers, and called the listing agent to learn more about the property and potentially submit an offer. My buy price was 140k so I ...
Justin Noethe
Seller Financing Question
Hello all!
I have an opportunity to buy a house using owner financing. The seller is open to it, but is older in age and would like to know what happens if they pass away before I am able to pay them off in full. Doe...
Chris Rassam
Homeowners insurance for an LLC
Hello BP community, this is my first post and I'm hoping to get some advice on an issue I am facing. I am scheduled to close on my first deal next Friday. I am buying a single family house in Northern NJ, cash deal a...
Grand Wally
Lease question...
Here is the situation. Found a GREAT house that will cash flow day 1. A renter has been secured. Because of the timing of the issue, however, the seller is signing his lease with the tenant and I'll probably close ...