Quintin F.
Carrying real estate debt
We are about to begin the process of purchasing our first home and I was hoping for some insight into the pros and cons of getting a 15 yr fixed mortgage with the following scenarios: 1) minimum down payment, and make...
Ken Chud
Eviction Due to Tenant Not Repaying Balance of Security Deposit
Hi folksI have made a mistake of allowing a voucher-assisted tenant to move in when she did not have the full amount of security deposit during Lease signing. Had her sign an impromptu agreement I drafted myself, whic...
Sean Maloney
Other and best ways to use built up equity In properties that are free and clear
I have several free and clear properties. Besides HELOC or lines of credit are there any ways people are using built up equity to secure their deals? I have heard of a way to tie a property with equity to others to sa...
Alana Reynolds
How to recover unpaid rent and money owed from previous tenant
Should I send a demand letter for payment to evicted tenants? They were evicted September 30th and owe more then what the security deposit covers. I will send a breakdown of what the security deposit was used for and ...
Matt S.
Downpayment Funding Options
Hi all - first post here so bear with me, I’ll try to keep it concise. In short, I’m preparing my finances here to put me in a position to purchase an investment property. Due to new COVID-19 developments, it’s my und...
Ronald Fontenot Jr
Got a contract on a house... how will this work?
I have negotiated a contract on a home and am considering a creative exit plan. The seller is willing to allow me to secure the house with the contract at our price of 250k. ARV is 360k at minimum. Rehab is 40-50k.Rat...
Nigel Johnson
Reverse Mortgage: Subject To
A lady called me with a nice house in a nice neighborhood that she wants to sell for what she owes which is $108k, and it is worth $150k. It needs no repairs, since her son is one of my best contractors who told her t...
Les Goss
Three Documents You Should Have When You Buy Notes
I just posted a new blog on this topic. I hope you find it useful...https://www.biggerpockets.com/blogs/7697/50523-thr...
Erin O'Connor Smith
What payments do you require at time of lease signing?
Just found a tenant and signed a lease, but he says he can't make payments until he receives his deposit back from his current lease. He screened well with good landlord and professional references and great income to...
Joseph Larrew
What kind of loan should I get for 40k?
I have a potential deal on the table and I need 40k to make the down payment. My credit score is plenty fine otherwise to secure a 30-yr conventional loan. Is a hard money loan the way to go?