Tammy Richards
New regulations & lack of clarity at closing means I lost $5000
Man, I am so mad. I just purchased a 4 unit, in need of repairs. The purchase and sale agreement stated seller would contribute up to $8000 closing costs.Because the units are occupied, and because the closing was m...
Jason S.
NPN - Notes Action Steps
Hi All,I'm new to notes and have been reading a ton. I wanted to get an idea on what the process looks like for you guys after you have purchased a note. What are your action steps?Day 1:1. Force insurance if one is n...
Mike Auguste
The Augusta Rule - Tax Free Rental Income
What is the Augusta Rule?
The Augusta Rule, known to the IRS as Section 280A, allows homeowners to rent out their home for up to 14 days per year without needing to report the rental income on their individual tax re...
Corey Reyment
LLC
Do we need to hire an attorney or could we do it ourselves? What are normal costs to set up an LLC? Here is what they sent us. Any recommendations?"The $1,275 Two Member LLC flat fee we discussed includes the creation...
Omer Zulfiqar
lending for multifamily
HelloI am interested in purchasing multifamily properties. I will be putting down 25 percent, expect the loan to be in the size of 500 K to 750 K. In addition I am planning on paying off the properties in 10 years or ...
Kevin Christensen
Sheriff's Sale Assignment
BP, I am new to this. I see a property coming up for Sheriff's sale that I think i can get well below market. I need to put 10% down if I win the bid. If I do this, can I then assign it to a cash buyer, similar to ...
Kevin Phu
Terminating M2M House Hack Lease
Hey BPers,Looking for some advice here on moving forward with a lease termination properly. I have a tenant that moved into one of my rooms on Sep 1 on a M2M lease. Attached to the lease is also a property rules docum...
Lindsey Matejak
LLC Operating Agreement Question
Looking to chat with someone (ideally an attorney) who knows the ins and outs of LLC formation in Missouri for an urgent issue on a property I'm under contract on.I am working with LendingOne for a DSCR loan and just ...
Rich Hupper
balanced equity exchanges
I am reading a book about 1031 exchanges however there is no mention of intermediaries. Everything the book talks about is about 2 party or multi party exchanges. For example in the book they discuss a transaction whe...
Maddy Pape
Seller Financing Process/Advice
Hi,
I'm new to seller financing but am looking to get advice from someone who has done it before and has a clear-cut process. To start, I'm only considering making offers on properties where the seller owns it free a...