Tom Chen
HELOC / checking account
Hi Everyone,
Recently I listened to a podcast with Clayton Morris (not a BP podcast, I know...FOR SHAME!) and he mentioned a strategy about using your HELOC as your main checking account.
Having your paychecks goin...
Keith Linne
First Deal Analysis Feedback
Hello everyone! I work full-time as a general contractor and have my Residential Building Contractor and Residential Real Estate Broker licenses in Minnesota. From 2011-2014 I flipped roughly 30 houses, so I have a so...
Vik C.
Depreciation Carryover and Recapture questions
1) Depreciation Carryover - Let's hypothetically say I have $100K in salary so that I qualify for $25K in passive activity loss deductions. In 2012, I take a $30K net loss from real estate operations. My understanding...
Justin Peucker
Can you wholesale a property with a lien on it?
I'm looking into unique ways to wholesale properties. Is it possible to wholesale a property with a lien on it? If we work it into the buy price and the numbers work for assignee and they are completely aware of it? C...
Felicia Lucco
Using equity to make another purchase
We have accrued decent equity in our home in NJ and maybe a bit in the rental prop purchased in FL earlier this year. Our plan is to use this equity to purchase another property. How do I access this equity? Refinanci...
Daniel H.
Mortgage Principal
Noticed that the principal portion of my mortgage payment went DOWN from Feb to Mar. Looked back over the last year and it kind of jumps around, not always continuously increasing. Called the bank, they said it was ...
Jason Spicer
Self directed IRA for lending and rentals
The more I learn, the less I like my conventional IRA invested in stocks. Am I correct in my thinking that I could transfer into a self directed IRA and use those funds for lending and accrue that interest tax differ...
Allan Gibson
Furniture and car left at a foreclosure
I just purchased a house at the court house steps auction. The house is fully furnished with a car in the carport. No one is living there. The furniture and car belonged to the widow that died. She had a reverse m...
Gary Parker
Sub 2 A Utah State Lien
I am looking at a property that has a lien from the State Of Utah dept of Recovery Services on it. My title lady says she can close subject too the lien and the seller is OK with it. My intent is to resell in a few ...
Michael P.
Couple Owner Finance Related Questions
I have a couple questions hopefully someone on here can answer one or both.
1. I recently sold a house that had a first and a second note I made to the buyer. The second was due and she paid off the principal howev...