Karene Burnett
Short term rental strategies/tools
Hello All!I am working towards purchasing my first investment property this year. I am strongly leaning towards a property to use as a short term rental. I am looking to connect with investors in this space. I noticed...
Jay Kysha
New Member Checking in - Ohio
Hey everyone - finally decided to join up after listening to a fair amount of podcasts on my travels. Looking to get involved in building a small residential portfolio to eventually combine in an aggregate sale for on...
Kevin McCormack
Tenant Lease Renewal - Landlord not responsive
Hi BP,I live in an 100 unit apartment complex in Westchester County, NY. My lease runs out 2/28/22. Per the terms, I need to provide 45 days written notice of my intent to either renew or vacate the premises. I’ve fol...
Suzie Remilien
Contingency-reserve fund when using investor money to buy mortgage notes
How much money do you set aside for contingencies (i.e.bankruptcy, unpaid taxes, evictions) when purchasing notes?Also, how long should such contingency funds be held and should they bear interest?
Ron Fiscus
Pay for onsite manager
Hello,I would like to hear any creative ways to pay an onsite manager. I hear a common way of paying anywhere from 5% to 10% of gross rents, but I'm not sure that is how I want to do this. I believe in and want to c...
Tommy C.
How to use DSCR on a mortgage for an STR?
Hey BP!I need some help from the pros with my question here: How can one use DSCR to qualify for a mortgage on a short term rental property with no trailing 12 month income? (i.e. new builds)I understand that in a typ...
Christina Traffanstedt
Best financing options for buy and hold?
Hello BP community! This is my first post but we have been going around and around on this so I figured the forums might be a good place to find an answer. I know there are tons of fix & flip hard money loans out ...
Anna M.
CAN A BANK CALL GOOD/PERFORMING LOANS?
CAN A BANK CALL GOOD/PERFORMING LOANS?IF SO HOW DOES ONE PREVENT/PREPARE FOR THIS, OR CAN THEY?I have always thought that if I am current on my bank loans the bank would not want to call the loan or foreclose on the p...
Jay P.
Tenant Causing Mold and Liens from City on my property.
Hi All, I have been an accidental landlord for about a year. I ended up moving to another state and couldn't sell in time. The house is location in Oak Brook, IL.In the end I went ahead and leased out the property. An...
Rob Henry
Private Lending secured by Mortgage
Do you necessarily need a promissory note if you file a mortgage? Say for example, I lend someone $5,000 on a free & clear house (listed for sale with a Realtor) and file a mortgage for $10,000 once the house sel...