Cyrus Dixon
Pre-foreclosure Negative Equity
I have a motivated seller that owes $220K in a area where homes sale for $110 max, the house just entered pre-foreclosure.Her husband put a 2nd mortgage on the property to help with medical bills and passed away short...
Maria G.
What applicant would you choose?
A- 2 adults (including a homemaker) and 2 boys of 3 and 5.B- 2 adults (both working professionals) and 1 daughter in Kindergarten.C- 2 adults (both working professionals) and 1 daughter entering Kindergarten in 2020.A...
Tony S.
What Else Should I Be Doing?
Dear seasoned multi-family property closers,How did you manage the massive list of to-do items and the many moving parts to buy your first multi-family investment? Did you have everything lined up and figured out bef...
Bill Mitchell
Private Money: Making Extra Payments?
With private money for say a rental property, are you generally able to make extra payments on the debt every month to pay off the loan faster? On the same note, could you get a 15 year private money loan on a rent...
Skylar Como
Assumable mortgage? How does that even work? 203k?
Hi!So Ive been banging my head against the wall for months trying to figure out how to obtain my first investment property.Looking for owner occupied.If FHA, I understand mortgage may be assumable. Just an example, If...
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Tenant does not pay rent
My tenant says she has mice and she uses it as a reason for not paying rent. She did not give it to me in a written statement. Do I have any reason to sue her?
Hannah B.
WA State to Eliminate SF zoning?
According to a recent article by Axios, WA lawmakers are considering eliminating Single-Family (SF) zoning in certain cities, like Seattle. Under the proposed bill (HB 1110-2023-24), quadplexes and sixplexes could be ...
Daria B.
Negotiations with Seller
hi BPers-I've just begun this process. It seems unheard of to offer 30k below list but I've read others in the forum who actually closed on the deal.I'm having my agent present an offer but we discussed it first. Loca...
Shawn Ackerman
Accept partial rent or give a 5 day pay or quit notice.
Just wanted to throw this out there to see what you guys think. Here's the deal. Today my property manager went to one of my newly acquired rentals and the tenant states "Can I pay $400 today and $500 on Friday?". ...
Elford Stephens
Help!!! Tenant moves adult daughter and grandson into 1 bedroom
Hi BP,We are new to property management. We took the leap last February and purchased our first duplex. There are two one bedroom apartments. The downstairs tenant is an elderly lady. Per the previous owner, the ten...