Dee Powers
Highest and Best Confusion
I wrote and offer on a REO property. Banks says there were multiple offers, send your Highest and Best. I did....and my offer was accepted. Problem is...they finally sent the ratified contract and it's for the amou...
Jamie Rost
Question on the wholesaling process
I am just learning about wholesaling and I wanted to make sure that I understood the framework of the process. From my understanding, the various phases of a wholesale deal include the following: A call is received fr...
Account Closed
Buying a note instead of a house, please advise.
I got a house under contract to buy sub2 in San Antonio TX, the seller is behind about 3 k. She says that she owes around 43-45 k and (the tax appraisal is 74k) she just wants out and has already found somewhere else...
Hans Restuccia
The Lenders- NON HOMESTEAD AFFIDAVIT- what does yours say?
this is an excerpt from ours:
4. Affiant states under oath that she does not reside in above described property, this property is not the Homestead property of the borrower, and that this loan is for the business ope...
Hannah Joy
Net or Gross income used for DTI
Do lenders typically use net or gross rental income when calculating DTI?
Javier Perez
RentPrep background service
Hi Everyone,Had a question, has anyone ever used RentPrep before?I have a tenant that I am currently evicting. My attorney tells me " Did you not do a background check on this guy? He has 3 evictions in his past over ...
Rachel Mellies
Airbnb management question
First off, has anyone heard of circle city investments? Curious if they’re legit since they reached out to me on social media about managing my property. They claim to rent your property under a long term lease and th...
Davison Horst
Federal and State Fair Housing Acts
Since I am a first time Landlord and have only one single family house to rent, my understanding from reading through the Fair Housing Act, is that it does not apply to my situation. According to the Act if you have f...
Michael Plaks
EXPLAINED: 1098s and 1099s for private lenders
This is one of those confusing tax issues that does not have a short answer: do I need to send Forms 1099-INT to my private lenders, and do they need to send me Forms 1098?Part 1: Forms 1098 from private lenders to in...
Michael Plaks
1099-NEC due February 1st (replaces 1099-MISC)
NEW form 1099-NEC replaced 1099-MISC for contract labor THE DEADLINE IS FEBRUARY 1st! When, where and how?
The short answer is: obtain form 1099-NEC, fill it out, and mail “copy A” of that form to the IRS and to ...