Aaron Bremer
wholesaling an over-under home
One of my best friends is getting a divorce and wants to walk away from his home (he's in Minneapolis, I'm in San Diego) but it's currently valued at
130-40,000ish and he owes 160,000. I want to help him by wholesali...
Corey Kenney
Using Engineer or an Architect for Re-Zoning
Good morning BP family,Today or tomorrow I should have a signed contract on a commercial property that I need to rezone to Residential. The listing agent seems to think that it’s no big deal, they just press a button ...
Caleb VanTimmeren
Apartment Roach Infestation
We recently purchased a 16 plex broken into two 8 plex buildings, completely full with tenants. One of the buildings has an infestation of roaches and we believe it has spread to the other building as well. We want to...
Brendon Seiffert
FHA self sufficiency question
Could someone help explain the self sufficiency rule with FHA loans? Looking for a clearer answer and the lady at the bank isn’t quite sure and is waiting to hear from her under writers, which won’t be till tomorrow.R...
Michiel Hart
earnest money for contract
Hello BP, how much money would you need down for a purchase agreement for a property under $40k in OH as a wholesaler. Just asking because some use a percentage rule and some just use $10 that I've seen.
Mark Malevskis
FHA Loan Question Regarding 75%
Hello all, I had a question about the FHA 3.5% down payment loan. To my understanding, for instance if it is a 4 unit property, to qualify for this loan, 3 of the 4 units must cover the entire mortgage. Does anyone kn...
Christopher Morris
Fannie Mae Owner Occupied 5%
Happy Friday BP! As we all know, Fannie Mae has come out with their 5% down, owner occupied loan for multifamily (2-4) properties. I understand this eliminates the "self sufficiency" test that the FHA requires for 3-4...
Michael Plaks
QBI calculation for Sch C - accountants are confused, too
Guys, we know that 20% applies to the Qualified Business Income (QBI). Let's ignore service businesses, phaseouts and all other complications. Let's take a wholesaler netting $100k. So, he just gets a $20k below-the-l...
Account Closed
Can they ask for rental application back?
I recently had 3 people fill out applications. I had one that I wanted but as I went into his background, I noticed a bankruptcy under his wife's name, he did not fill out his income section, and the total income writ...
Manuel Sandoval
Seller/Owner Financing Question
Hi,
Recently I have become very interested in apartment investing, so I have doing a lot of research.
I started reading about seller/owner financing, and I'm confused about something. Buyers usually go through this...