Mark Gruetzmacher
Cost Basis before being in service
Ok my understanding is that repairs and improvements to get a property fixed up so it can be put into service as a rental are added to the basis of the property per what the IRS says. So with that said, I have a coup...
Sofiya Cherni
Agreement to break lease
Im letting my tenants break a 2 Year lease because I’m their neighbor and they’re too loud for my taste. They want a bigger house so it’s a win win. What should the official document include to cover myself?I would pr...
Willie Creear III
Mid-Term Rental Strategy: Rent By Room
I currently own a Mid-Term rental located in Greater Seattle. One of the strategies I picked up early to utilize was renting by the room. Through trial & error I have learned how to support this specific rental st...
Matt Kauffman
First Deal: 4 Plex & Duplex
Hey BP folks, I"m a newbie but have been an avid reader but not an avid poster on the forums.
Here's a deal I'm working on right now, my first!!!
Same seller for both properties
4 Plex
Price...
Jonatan Nir
Due diligence for first time multi family buyer
Hello BP members!
So far I purchased single family homes and I want to buy my first multi family property.
I am looking to buy 20-30 units.
I would like to know what are the due diligence checks I need to for mult...
Matt B.
No heat and water in rental property
Hi All,I own a rental property in a condo development in NYC. One unit a few condos away is vacant (owner was foreclosed on). There is not heat in that unit and the water pipes keep breaking. As a result, they had to ...
Ramon E Alvarez
When is the Landlord supposed to turn in the keys to the Tenant?
My Tenant’s move-in date is Monday 16th of August. I’m asking him the time he’ll be coming to pick up the keys and he says that he can come pick them up Saturday and do the inspection right away.Should I do this Satur...
Jamie Parker
Getting Quotes For Civil Engineering
I am under contract with a land deal, on Marrowbone Lake In Joelton. After talking with planning they mentioned that utilities were 2 miles (10,000+) ft away. However after being directed to Metro Water, They mention ...
David Florist
Splitting utilities with Tenant
I just bought a 3 bed 2 bath house with a pool. I will be living in the house and renting out the other two bedrooms. One potential tenant is already asking about putting something in the lease for splitting the cable...
Saman Jafari
Low credit score for cash out refi
Hey folks, I’m in the process of refinancing a couple of properties I have. However i made a mistake and opened a couple of credit account and it lowered the credit score drastically that the qualifying score is 703 b...