Deborah Frantz
Tax question on a rental property that was bought through a housing program.
The program required half of the profits from the sale be paid back into the program. A check was wired to the county at closing by the settlement company. Do I add this payment to the closing costs? The 1099-S I was ...
Marco Petit
Buying a house in probate
I found a house that an heir is really motivated to sell, but is in probate. I think I've heard that houses often can get sold before the probate is over. How do I go about this deal? His family also owns houses in ot...
Trevor Schuler
Wholesale Closing, Sellers Options For Receiving Payment
When does the seller in a wholesale transaction pick the account that they want the money wired to? Is it with the closing documents or is it submitted before that. Is there any requirements if it is going to be in a ...
Mary Dodd
Help mid deal. Wondering if I went with the wrong lender?
am just a bit distressed. We are in the middle of a purchase and are getting run around by the lender. I wouldn't say that except we have jumped through hoops since 7/15 and are just now being told that they can't su...
Tim V.
False creditor information ruined my credit score
Spoke with my bank today about financing my next real estate purchase. On my credit report was an apartment complex where I broke the lease but paid all early term fees. I have all information saved luckily on Feb 22 ...
Account Closed
HOA dues - to hold in escrow until they follow their own rules?
Okay I have searched the topic of HOAs and some of the lousy stunts that are pulled. Well I now have one of my own. I recently purchased a town home with an HOA. I have tried to contact them by email and phone with...
Ernie Sturzinger
Is it common practice to require escrow money for a LOI?
Hey team! I am doing LOI for 12-unit commercial property. They want escrow money at 2% of asking to submit a LOI. Is this normal? FYI. This is my first commercial property I am pursuing. We didn't do a LOI with my oth...
Zach Norris
Section 8 Information
Hey everyone! I have a single family rental listing in Canal Winchester, it's a 3bed 2.5 bath. I'm getting some interest from Section 8 applicants, and after doing some research I'm getting conflicting information on ...
David Prince
Hard Money Lender Packet
I’m looking for samples of any deal packets you submit to hard money lenders. What stats do you include (aside from the obvious rehab budget, holding cost, acq cost and sale/rental returns). I assume a quick overview ...
Joseph Lyons
Historic District Insurance
Hey guys! My partner and I are about 2 months from closing around 15 units in a Des Moines historical district! We’ve been having a hard time with our insurance agent. He said he can’t submit the policy to underwritin...