James Palassis
Calculating Interest Amount for Private Money Loan
Good evening Pros,I am entering into an agreement with a flipper and I am the lender. I have set up the loan on an escalating interest rate as follows:Months 1-5 = 8%Month 6 = 9%Months 7-9 = 10%Months 10-12 = 12%It is...
Eric C.
Form 8824, 1031 Exchange, Deferred Gain Amount
On 8824, Line 24, Deferred gain amount. Is this amount the tax I would have owed if I just sold the property and didn't do a 1031 exchange ((ie. capital gain amount + depreciation recapture) - (closing costs and fees...
Brian Bower
How to decide on Insurance Coverage amounts?
Hello everyone, I am at a loss at guessing the proper about of insurance coverage for my properties. Does anyone have a metric or advice on how to arrive at a proper number? Any studies/reports on what the average pro...
Justen Ashcraft
Longest amount of time with no tenant
What is the longest amount of time after acquiring a property that you have gone without a tenant? I have some prospective properties, but am worried that the location may be to rural for a tenant to move into immedia...
Account Closed
House selling for far below foreclosure amount
Hey all,
I ran into a situation that I'm not sure how to handle yet, and searching didn't seem to yield anything. I saw a house go on the MLS this week for $30K, and a quick search of records revealed that the owner ...
Account Closed
Sharing bid amounts, is it bad business?
Just need to know if it’s bad business when getting multiple quotes? Example of my situation. Second HVAC guy came back with bid amount which was higher. He’s knows the first contractor that bid the property. How he k...
Christian Kim
I've inherited a good amount of capital.
I've inherited a good amount of capital. I want to growth my portfolio quick. I'm looking to buy houses for rental or flips. How can I leverage my money and keep getting loans if I only make 50k a year?
Chuck M.
Rent Attribution - Multiple tenants paying same amounts
We've grown our portfolio up to 22 units and have a mix of tenant payment methods: manual cheques (fun), e-transfers, bank counter deposits and some have done PADs at their local branch.Our challenge has become with t...
Jacky Johnson
Minimum amount of coverage for rental property
I have a single family home rented out. I want to know what should be the minimum amount of rental property coverage an owner should have. What is the minimum amount of coverage for dwelling, structures, personal prop...
Ricky Solon
Lowest amount of money needed to flip
Many times you hear people talking about no money needed to buy properties. I have yet to come across a solid deal where I didn’t need to put up some money. What have you found?