Manuel Sarabia
So what qualifies a borrower for a hard money loan?(+ a few questions)
If ficos and income are not the issue, what do they look at in a borrower?I'm looking into taking this route in hopes I can get a loan. My situation, My middle score is about 610. My business income(RE commissions, et...
John Drinkwater
The "Quit Playing Games" Scenario
You know what is frustrating?After 3 Months, and 100 + hours of going through Los Angeles Housing Market analyzing 100's of deals, still coming up short. Last week, Friday morning to be exact, I found a listing in Wes...
Jon A.
Is a buyers offer with a 1031 good or bad?
When a buyer makes an offer with the hope of doing a 1031 exchange is that considered a solid offer from a sellers perspective? What are the pros and cons of making an offer in this scenario? Personally, I would take ...
Bob Flynn
tax allocation to land vs. apt buildings
I'm a member of a partnership that purchased several four-plexes last year. I have reviewed my CPAs draft tax return and they have allocated 25% of our purchase price to land value and 75% to the buildings. Therefor...
Darnell Robinson
Lease Option Contracts
I spent money I didn't have on a weekend long course that promised to show me how to fill out a LEASE OPTION CONTRACT on the advertising, but to my dismay, we were never taught how to. I was told on he first day to ...
Marc Izquierdo
Homeowners, liability, landlord insurance?!
Hello everyone!
I am starting to look at and analyze some deals in hopes to buy in a year or so. Specifically multi-family (3-4 units). During the analysis process, I started to think more about insurance and had s...
Account Closed
Cemesto Building Material
Hi BP!
I recently looked at a 1950's home, and during our inspection it came to light that a material called "Cemesto" was used for the (flat) roofing structure.
While the roof seems to be structurally sound, in res...
Mike Boss
Advice on who to use to start an LLC
Here are some questions. I’m thinking of starting an LLC for when I purchase properties for flips. I was wondering how much it typically costs? And is there an annual fee to maintain the LLC, how much is it? I’m hopin...
Chad Coleman
Tax consequences of transfer a house to LLC and rent it
I have lived in a house for 4 years and moved recently to a different house. Was thinking to transfer the old house to and LLC and rent it out. I think since I have lived in the house for full 4 years, there will be n...
Tony Robledo
How to write a lease with utilities included?
I’m a first time landlord about to rent out 2 units in Oak Park, IL.
I was planning on using the lease agreement template available on Avail, but I have a custom amendment I need to add and I want to make sure it is ...