Jamie Gruber
First deal under contract ... would love some financing advice!!
What an amazing thing BP is. Always liked the idea of real estate, but not until I found BP did I appreciate concepts like finding a niche, reserves, what cash flow truly is, etc.
My wife and I have decided on small...
Eric Tomlin
Tax owed when selling a rental home after a fire loss
Good day experts. I am trying to understand the tax laws and determine my tax liability for rental property that I have sold. The uniqueness of this transaction is in the fact that the property suffered a fire, and I...
Nick Ferguson
1031 Exchange - Mortgage Escrow Overage Check
I'm currently in the middle of my first 1031 Exchange. I've sold my relinquished property and am under contract for the replacement property. The closing for the sale was remote so I was not there and the closing/ti...
Joe Hughes
HELOC on a free and clear property?
I recently bought 3 properties at auction, and have started the rehab process. All 3 will be a flip strategy. I also have a opportunity to purchase a buy and hold property that will net a 21.5% cap rate. My strateg...
Chad Walsworth
8 unit complex returns
I am looking at my 1st multi family deal (8 units) The sales price is 430,000 with a NOI of 36k......I am figuring 5000 unit in rehab, figured into the loan amount. Net cash flow is 12,847 with a cash on cash return...
CJ M.
Keep chimney/fireplace or not? Have to decide today
Hey everyone,I have to make a decision today on a rental property I'm working on. There is a wood-burning fireplace in the living room (not sure if chimney is clean/clear). Anyway, the stack coming out of the roof if ...
Eric Clunn
Assignment Fee When Structuring Owner Financing Deal
Hello,I'm currently structuring a wholesale deal with seller financing. How do I apply my assignment fee? I was thinking out of the down payment (Increase down payment by my fee amount and reduce the purchase price ...
Michael Tucker
Fed employee and voucher / section 8 conflict?
Sup BP! A friend of mine was taking a training and knows that I have an interest in renting to voucher tenants. During their course they came across some information that sounds like, "no person can accept two forms o...
Dean Lupowitz
Out of state investor - Q&A
Hello,I am interested in learning more about areas in Michigan. I am an out of state investor and need a PM and GC that I can trust. I am looking for LTR and Section 8 for cash flow. If there are any other out of stat...
Mylan J.
contractor hiring question
Is it better to have a property under contract before calling contractor companies for bids. Will they even come out if it's not under contract?