Timothy Colman
A unique situation - what would you do?
Hello all,I have a unique situation that I am seeking advice for. I will keep it short and to the point.A close friend of mine desires to sell his town home to me for his current mortgage balance (90k). The home was...
Keagan Hill
FHA 203K Loan, Useful tool or difficult process?
I am researching and thinking about doing a FHA 203k loan when I buy my first property. I am just getting started, so it appeals to me in the fact that I could get into a home for 3.5% down and also be able to look at...
Brandon Gadish
Increase the probability that a Lender Says "YES" to your short sale offer
Here are some things I do when putting together a short sale that I believe improve my chances of the lender saying "Yes"
1. I write the hardship letter with the seller. I want it to be as personal as possible in a...
Lawrence Pascua
Newbie from Tustin California
Hello BP community! My name is Lawrence Pascua and I'm a new real estate investor from Southern California. I've been working as an IT professional for over 15 years. In late 2015, I happened to find BP as I was sear...
Anthony Bonanno
45 days to release funds after the offer…..to long?
I met with a local credit union today and they would do a loan 90% of purchase price and rehab costs or 75% of ARV, whichever is lower. I would need skin in of 10%. Interest rate 5.5%-6%. In addition to any purchase, ...
Jay Truong
What Is the Best Material for Sewer Pipe for Rental Homes?
Hi,I am buying a triplex in Tempe, AZ and I am thinking of replacing the entire sewer pipe as the triplex is about 50 year old. However, I am not sure what the material (PVC, cast iron, etc.) to use as tenants might a...
Ryan Heywood
Lesson in Out of State Construction
The Goal: Have the two wooden fences that create enclosed patios replaced before I paint the building. The fourplex is in Phoenix while I live and work in California.What I Did: First I talked about the repair with my...
Peter K.
Hiring a Contractor- what steps do I need to take?
After receiving a quote from a contractor to fix up the house, what steps do I need to take? Do I have to make a legal document on the agreed specifics? How is the payment work, I heard you pay a little up front, midd...
Brandon Sturgill
Home Warranty for an Investment Proeprty?
Does anyone buy a home warranty for your rentals...is this even feasible?
John Morgan
Tenant wants to break lease
A friend of mine wants to break her lease due to her landlord slow at fixing things. She wants to move into my vacant unit and just get out of her lease. It took a few months for him to fix something they requested as...