Joseph Agins
Prepayment penalties on DSCR loans for paying extra?
Loan Commitment states: "There is a prepayment penalty of 1% on the loan for any partial or full principal reduction payments made before the end of the fifth year. After the fifth year the loan can be paid off with n...
James Bausch
Mortgage Debt Avalanche Calculator
I know I'll get "beat up" here on BP for even suggesting paying everything off :) but I'm at the point where I'm ready to stop scaling (for now) and have everything paid off.I'm really struggling to find an Avalanche ...
Mark Takata
Improve Apartment Operations
Hey BP, Background: I'm trying to help my dad improve operations on his 8 unit appt complex in the West Adams area of Los Angeles, CA. He currently has 6 of 8 tenants on month to month (2 newest including one that mov...
Brad Jordan
Under Contract And will be acquiring Section 8 tenant
I am about to close on a property that is bank owned with a section 8 tenant in place. I have asked for the agreement for the tenant(they claim it is month to month), security Deposit at Closing, section 8 contact inf...
Isaac Hemingway
How quickly can you build your credit score?
I'm 18 years old, just got my Bachelor's Degree in Business (I graduated from High School at 15), have no credit score, 20K saved up, a full-time job, and am looking to buy a home for 200K or less (I live in an area c...
James Conaway
Property Management Tenant Admin Fees
I have a few properties under a management company that charges me, the owner, $65 per door.
They also charge the tenant's a 2.6% admin fee each month, which equates to for example $20 a month on a $750 monthly renta...
Bryan Hartlen
Definitions: Performing, Re-Performing, Semi-Performing?
The more people I talk with the more it appears that there isn't a firm definition of performance; or folks are liberally using the terms depending on whether they are buying or selling. Is there a trusted source tha...
Courtney Duong
Tenant paying late every month, accept late payment or evict?
Hi all. First year as a landlord here and I need advice on this. I have a bad tenant who has been paying super late (30 days, 45 days, 20 days late) every month for the last 7 months (except March). The first coup...
Mike Oconnell
Would you rent to tenant in Chapter 13 if they pay for full year
Would you rent to a prospective tenant who is in Chapter 13 bankruptcy if they pay for full year up front?Thanks!
Jimmy S.
tenant did not include late fees
How do you handle late fees if tenant has paid the rent late but did not include the late fees. Do you send them a letter, call them or how do you handle it?Rent is due the 1st and 2 day grace, 3rd day $40 late fee st...