Carolina E.
Tenant may have left town
My tenant is late on his rent. We gave him a set date to pay what he owes. I did send a certified letter stating what he owes and that further action will be taken if payment is not made. It looks to me that in Ill...
Nicole Heasley Beitenman
What do I take to the bank?
Hi BP! I have 2 deals under my belt and have a plan to obtain a 3rd. I've been sending a lot of documentation to my bank as I go through the process of obtaining a HELOC on one of my properties. I'd like to be better ...
Jay Bob
Residual income estimates
Below is a letter I received from the bank I applied for 5% down conventional mortgage loan. Why they need this information and what this means to me? I have not received the form they want me to sign yet. Should I be...
Leo Shilkrot
Return of security deposit
I need to return the deposit, the problem is I have five roommates. Had there been two I would have made the check to both but I have five and I cannot make a check payable to five people. The initial deposit was one ...
Peter Pope
How to claim depreciation on taxes?
Hello all, this will be the first year I’m able to claim depreciation on 1 of my properties as it is a rental now. What do I need to do when filing my tax return? I like to keep it simple and see the same tax preparer...
Jerome C Brown
questions about funding
hey guys im in another pickle so i have some really good people trying to invest in one of my projects and i dont want to mess this up I have they are asking for a document from me to explain where the funds will go l...
Vincent Carroll
Seeking advice for potential eviction
Greetings,My wife and I (and our young son) owner-occupy a duplex, and we have a tenant (family) next-door who we inherited when we purchased the property last year. They are presently on a month-to-month lease, and ...
Nicole Heasley Beitenman
What do I take to the bank?
Hi BP! I have 2 deals under my belt and have a plan to obtain a 3rd. I've been sending a lot of documentation to my bank as I go through the process of obtaining a HELOC on one of my properties. I'd like to be better ...
Kwok Wong
Reject Prospective Tenants
Hello everyone, I am currently going through rental applications for a family. I wanted to reject them but they think it's inappropriate and trying to get my approval. Reason #1 that I want to reject, one of the appli...
Nick Militello
Hard Money Contracts
I am looking to ask family for a hard money loan for a property. My self employed status and 2020 tax return are making a conventional loan difficult. Is the a template document available to use as a contract? If not,...