Jessie Niu
Only one rental on the side, do i need to send 1099?
I read that for any contractors who did work exceeding $600, the investors need to send them 1099. I just bought my first rental end of last year and are still rehabbing it, hasn't rented it out yet. I don't have a LL...
Scott Spanier
What's not working in the Rental Industry?
Over the last year, I've had the privilege of working for dozens of property management companies and spoken with hundreds along the way about what's working at what isn't.While I know that some teams are short staffe...
Evelin Negrete
Terminate Lease with inherited tenant
I recently bought my first duplex. I inherited a tenant whose lease ends by August 1st. We talked and they asked if I would be increasing the rent I said yes to $925, they were originally paying $825. Market rent is $...
Karen Johnson
Do I need to issue a 1099 when insurance covers the cost.
Hello,
I had to perform some repairs to my roof and ceiling due to ice damming. Am I required to issue a 1099 to the contractor if the cost is covered by insurance? To be clear, insurance cut me the check and...
James Roberts
Loans for furnishing?
Just bought a home for the purpose of turning it into an Airbnb and was wondering if anyone had any suggestions on how to go about buying the furniture without using my own cash - loans, or credit cards etc. Thanks!
Hady Farag
Newark Room Rental Illegal?
Hey BP community,
I just recently purchased a 2 family in Newark in which I inherited tenants that the previous owner had. I wasn't 100% sure If I wanted to keep them or not but decided to keep them because they were...
Mitchell Witkes
South Side Chicago Property Mgmt Recommendations
Hi all,A friend of mine is having issues with their property management company in the south side area of Chicago and I offered to ask the forums here for advice. He currently only pays 6% which is pretty low, but he ...
Marvin Stewart
Lights
Hello BC family,
I have 2 tenants that I am leasing my rental property to and they are having issues with getting their utilities turned on. One of the tenants that is on the lease has a bill due. Since she is listed...
Andrew Urban
Tenants having lots of guests over. what should I do?
Hello,
So I have this couple, their mother, and their new baby living on the first floor of my building. They mentioned to me that they have a church group over on sunday's. That I'm all fine with. What I'm star...
Michael B.
Im stuck i have a pretty hefty LOC nothing underwrites
The issue is find deals, but i also have to pay my LOC plus new mortgage so the number don't add up i keep going under water on the deals I underwrite. I pay the whole deal cash but i still have to pay like 16k month...