Account Closed
Opening HELOC on Parent's LA Home, My Name Not on Title
Hey BP, making my first post here!I'm looking to open a HELOC on my parents home here in Los Angeles, and use the money to fund rehabs to make their property rent ready. Currently my parent's home is my primary reside...
Ken Ch
Repair Credit, deduct from listing price or closing cost?
My seller is offering us 12k Repair Credit. The agent asked if we want to deduct it from the listing price or just get it as a credit towards the closing cost.I'm not sure which way will save me more money.Any suggest...
Joel Owens
Current tax reform status 12-2-2017 / Senate Passes Resolution
Dear ICSC Member,In the wee hours of this morning the U.S. Senate passed its version of a tax reform bill by a 51-49 margin along party lines. Senator Bob Corker (R-TN) was the only Republican to vote against it due t...
Molly O Branson
Creative Financing- is hard money the best option?
Hello! I'm under contract for my first multi-unit purchase (4 unit). The building needs a lot of work-- electrical, plumbing, roof, new kitchens, etc. I received a bid for $90k for the whole renovation (not including ...
Kevin L.
legal way to take 3 month deposit
In Virginia, the maximum deposit a landlord can take is two month rent. I have a lady recently went through a messy divorce with bad credit who is interested in my property. She told me upfront that she has bad credit...
Andrew S.
BRRRR, flip, or pass - from a buy and hold investor
Hey community,
I'm a buy and hold investor but looking at a potential flip or BRRRR deal to acquire another property or cash for future rental. I currently own multi-family properties and not as fluent in the SFR mar...
Erik Dofelmier
Prescreening Prior to Showing & Still Nothing
We recently placed a duplex up for rent on Zillow, FB Marketplace, etc and on the description I clearly have the minimum requirements listed (600 credit score, 3x rent etc). When prospective tenants reach out, I then...
Christian Carson
Cash-out refinance dilemma
I have to decide what to do about refinancing two of my duplexes, and the banker is pressuring me to return my application, but closing costs are really hard to swallow. Here's the situation.Duplex AValue $90kLoan: $3...
Garrett Blanchard
Balance sheet structure
I need to build a balance sheet for my properties. What I have so far... Assets, cash and the properties. Liabilities, balances owed on properties, credit cards and lines of credit. Am I missing anything there? Also, ...
Timothy Eaton
What do I need from the tenant to do a proper screening?
Hi, I am leasing my first rental and want to make sure I do this right so I don’t get stuck with a bad tenant. What things do I need from the potential renter so I can do a proper screening on them?