Ryan Copeland
Lender vs Lender, what do I do?
So I am going through the lending process with another lender and we just got my rental appraised last week. Now Quicken, who has the current mortgage, has gotten the notice that I’m about to pay off the loan and then...
Saran Mandhadapu
Financing quote from a bank -- is this good???
Hi,I am purchasing a multi-family unit for $175,000. Here are the loan terms I received from a bank, please let me know if this is good in current market. This is a commercial loan.Interest Rate fixed for 5 years = 4....
Marshall White
Advice for a tenant breaking a two year lease
Hey everyone! I'm new to BP and wanted to get opinions from other landlords or PM's that have dealt with this type of situation. I have a tenant who signed a 2 year lease in March 2019. They just informed me that they...
Benjamin L.
Hard money loan referral fees
Can an any person receive a referral fee for a hard money loan introduction where the lender and subject property is in Texas? Or does the referrer need to have some sort of license to be eligible to receive a referr...
Cameron Riley
Is it wrong to accept 20-25 applications with the fees?
Hi guys! how many applicants per unit? Sometimes I’m getting 20-25 people paying and filling out applications with the fees, how about you?When does In become unethical?
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...
Jessica Lamont
Is about 9% of purchase too high for closing costs?
We are doing a hard money 12 month loan for a fix n flip and our closing costs are over $10,200. Purchase price is $121k. Is this standard for hard money or too high?
Jamie Parker
Private Lending: Fees are a bug-a-bear!
This is not intended to be a rant of the complaining sorts. However, from the this post I hope that someone may gain some value out of my situation. Short story long....In the process of completing the process to get ...
Matt Ransom
Money Order Drama- Need Help.
Here is how everything went down.1) Money Order lost by USPS (tenant produced a receipt and I called to verify it was legit)2) Tenant calls about re-issue but MoneyGram requires 30 days before a re-issue(??)3) Contact...
Eric Brown
Property owner holding mortgage
I'm new to investing and Bigger Pockets so if this is a stupid question please forgive me. I'm investing in Rochester NY area. Looking for my first deal. If a property owner is willing to hold a mortgage note, with a...