Bryce Betley
Those "I buy houses cash" signs...
We have all seen those "I buy houses for cash" signs. Do any of you have experience with them? How have they worked?I began to think that it might be better to create a company name so that when people are ready to se...
Emily Sulliban
50% Rule- Is it Really a Rule?
I've been reading on the 50% rule for calculating viability on a potential rental income property:
Gross monthly rent
-(minus)50% for operating expenses
______________________________(equals)
NOI(Net Operating Inco...
Nicole R.
Defendants Filing Bankruptcy to Stall Sheriff Sale Confirmation
Hello BP Members,I recently bid on and "won" a property at an auction that occurred this past early March. Prior to bidding, I did my due diligence and felt comfortable bidding (i.e. ensuring it was a 1st mortgage, t...
Devan Mcclish
Closed 3 Houses Today!!! $$$$$
Today was a day that we all look forward to in real estate. It might not come very often, but when it does, it's a great day. It's called payday! I closed three houses today alone. Below I will walk through the deals ...
David Rundle
SAFE Act in Oklahoma & Lonnie deals
I see John Fedro's post that Oklahoma requires a Mobile Home retailer's license . This has just further confused me. I found a deal to buy a mobile home and the seller is extremely motivated. However I'm hesita...
Zach Simpson
Why Would You Do A Month To Month Lease?
Hey everyone!My wife and I are very young (both 21) and we have our first baby due in October. To make a long story short: I am wanting to get a headstart on real estate investing. As of now, I am really thinking it i...
Nick Brubaker
Tenant threatening to take me to court over deposit. What to do?
TL;DR:
Decided it was fair to keep deposit of $770 for 5-year tenant for no cleaning, large scratches on floor and trim, hooks in walls, satellite dish installed on roof, and large stain on deck. He sent threatening...
Christine Swaidan
Long term tenants
We have a 70 unit senior building that we have owned for the last 20 years. These are all low income and about 20 have section 8 assistance. Rents are low. I would have to say we have not done a great job managing the...
Denise Evans
Tenants and Animals
We are all familiar with issues related to service animals (specially trained and certified dogs) and assistance animals (such as emotional support animals of any species or breeds).This post suggests a compromise res...
Ponni Carlin
Setting up multiple LLCs and Business Credit Cards
Hi Everyone! I am in the process of setting up multiple LLCs and need to manage the rents and expenses within each LLC. I need to get a business credit card for each one. Has anyone experienced how that impacts your c...