Julie Falen
Subject-2 buyer not performing
I sold a property Sub 2 in 2013 on a 5-year balloon. No escrow. Buyer sold the contract to someone else. Balloon was due in 2018. He has not performed, has not paid taxes or insurance so my balance went way up with ...
Nicole Parnell
Capital gain tax on selling real estate in 1 year
What is the % of taxes I may be subject to pay on a property I lived in for 366 days then sell at a profit? I'm getting mixed responses on this. A real estate agent told me 25% of the gain. A lady on biggerpockets for...
Jonathan Valle
Should I create an LLC before or after ?
As a real estate investor who is just starting is it wise to creating an LLC before or after your first property buy? what are the pros and cons? Thanks !
Tony Karns
Refinancing with bad credit
Purchased a duplex last year and finished a full hut and remodeling February. Last week the property went under leasing contract for more than I was asking. I am now ready to refinance and pull out equity for a new d...
Mitchell Litam
Telling a bank you will live in a house knowing you wont
Hey guys,I was recently talking to my friends husband who has about 20 properties. I was talking to him about how he finances and other questions in terms of the market.He was very informative and provided me with a l...
Stephen E.
Screening Time
I love BP posts on screening, they help you test your screening skills and it is always interesting what people see and do not see. I am leasing and have an application, so here goes.The applicants are two couples, a ...
Robert M.
Oregon rent control deters multifamily investing
Oregon's Democratic regime passed the first state wide rent control earlier this year. Since the new law has been in effect there has been about a 38% decrease in multifamily investing. (https://pamplinmedia.com/pt/9...
Kotgreg T.
Opportunity or threat?
Hi all,
So up here in Canada, the finance minister is contemplating the idea of lowering personal debt by making it harder to purchase a home. At present one can buy with 5% down and amoritzation limitations of 35 ye...
River Luce
CPA in Maricopa County (Arizona)
It has been quite a while since I have posted on B.P. and in that time Covid has definitely changed a lot of plans. My girlfriend and I have had to change our plans quite a few times in the last year. We have now move...
Keegan Dsouza
Profit split in partnerships
If Jimmy and John get into a long term partnership on real estate deals. Jimmy finances 100% and John finds good deals to invest in and manage the investment. Jimmy gets in the money and John decides what to do with t...