Brian Johnson
Ideas on refinancing my rentals for better cashflow
I have been searching some local small banks for refi rates on total cost and rates. My idea is to go conventional loan for 20 year or 30 year. With no money out of pocket.I have a duplex that I purchased for $155,00...
Oscar Coreas
Agent commission towards closing cost
We are looking to purchase our first STR and my wife is a (new) realtor. Can we use her 3% commission towards closing cost when financing via a non conventional lender like host financial?
Shawn Q.
Tenant/Sublease issues: What would you do?
So I have a strange one. I have a tenant that moved out - his lease ends 07/31. He's paying the rent and his uncle in town is looking for a person to sublease. They found a prospective tenant that falls under the cred...
Steve G.
Who pays closing costs?
Hi guys,We have a seller who's interested in putting their property under contract with us. They have an issue with paying costs at closing, however.Our contract states that they pay the costs of preparation and trans...
Therese V.
Recommendation for a better rate, $2k sucks!
OK, have a home built 1925 and we are closing tomorrow. Needed to get insurance that includes 100% replacement value. The home is brick. Great condition, except they want $2k+/year to insurance including $5k deductibl...
Lou Nicks
What is a mini-mortgage in a STR partnership?
Can someone please explain to me what a mini-mortgage is and how it works when you have a partnership on a STR and one person is the “Money” and the other is the “Sweat equity partner?” How does the sweat equity partn...
Eli M.
A tenant with criminal records
Dear BP Community,I am reviewing an application for a potential tenant. this is a couple, not legally married, without kids.They are both in their early twenties (22), first time moving in together. They are willing t...
Colleen F.
Do you ever rescind a offer to a tenant of a rental and why?
Ok so I offered a property to a group of 3 younger female tenants whose landlord references were very good. I was upfront about everything in terms of pre-paid rents security deposit etc. I send them the deposit...
Manuel V.
Rentor wants to pay a full year, currently on month to month
Hello Everyone, I am new to BP and currently trying to go through the entire podcast series. I have a single family which I'm renting out through a Month to Month agreement and have had it rented for 1 year so far. Th...
Charles Coaston
Do these terms sound right to you guys.
Biggerpockets,I just bought a home through conventional financing a few months ago. Now I'm looking at a duplex that I want to get a conventional loan on but make it my investment property. In order for me to get this...