Ron B.
Dumb question, sorry in advance
Sorry in advance, I'm not an accountant and I'm trying to figure out if a property is worth buying by doing my own rough math before paying my accountant to do it for me. So I have a $3.5m purchase and have a 100% loa...
Chad Wells
do i sale or not
I have an interest only loan on my primary residents and it now has principal added to it. I owe 104000.00 on it now and it appraises at 153000.00. I have it on the market to sale and I have an offer for 153000 and bu...
Kathryn K.
Insolvency, 1099 debt forgiveness and future taxes
I have a co-worker who did a deed in lieu on a rental property and subsequently received a 1099 for the difference between what the bank sold it for and what she owed on it, which was 144K. In order to avoid huge ta...
Taelonn Harper
Subject To Deal! - Advice?
I am working on a Subject To Deal and would greatly appreciate any advice anyone may have to offer.
Here is a breakdown of the numbers:
Property ARV: $120,000 cash.
Loan amount still owed: $79,000 cash.
Interest r...
Jim D.
Relationship of Principal and ROI
As I understand it, ROI = (Cashflow per Month * 12) / (Total Equity)
I'm having trouble understanding why principal doesn't count towards monthly income in this equation. For example:
I buy a rental for $100,000 wi...
Jack Thompson
Mortgage Forgiveness Debt Relief Act Expiring
It took me nearly 8 months to figure out what this so called "mortgage forgiveness debt relief act" really was and how it could benefit me. I was with my wife one day and we overheard two couples talking about it and ...
Donald Dickerson
Owner Finance question
How do I calculate the net worth of an owner financed property?
I'm the party doing the owner financing.
Gurjot Grewal
Am I understanding seller financing? How are my numbers?
Hello BP I have a few newbie questions. Most likely this offer won't get accepted, but I think this will be a good tool to learn. Quadplex is listed for 375k on market for about 10 days. I'm going to make one straight...
Andy Young
Another Capital gains question
I am selling a multifamily I bought for 100,000. Over the course of owning it I have paid off $25,000 of what I owe on the mortgage.I paid 25,000 and got a mortgage for the 75,000.I am now selling it for 200,000.I am ...
Account Closed
Should I RENT it or SELL it?
I bought a house in 2009 and took a loan out for 190kI have it down to 169k(I was getting a good deal because it was selling for 239k back then and the seller was DESPERATE due to personal reasons.) Now the market is ...