Chris Kraemer
Newby: Closing Cost % Rule of Thumb?
What is a QUICK rule of thumb for ...Buyer Closing Cost % of house valueSeller Closing Cost % of house valueIs it generally accurate to say that the seller pays the realtor fee 6% and the buyer pays for everything els...
Max Emory
Bookkeeping Q&A for a New Real Estate Investor - Cash vs Accrual
One of many Examples: Prepaid expenses (insurance) paid at the beginning of the year. Cash basis shows a loss for January but in reality that insurance payment covers the entire year and should be spread across all ...
Jason Cummins
Generally, what do sellers pay at closing?
On a general basis on the retail level, what does a seller pay for at closing? I've heard it's usually around 1 - 1.5%, but what exactly is the seller generally paying for at a closing?
Thanks!
Max Emory
Bookkeeping Professional with 23 Doors and Counting
Hi! I'm Max, a Bookkeeping Professional and relentless real estate investor with 23 doors and counting. I love to help other Real Estate Investors with their professional books (Or, at least alleviate some of their st...
Syman Scarpellino
Investing Deposits? Risk/Reward?
Hey BP Community, My rental portfolio is steadily growing (still pretty smalltime), I am up to about $20,000 in tenant deposits. Thus far the money just sits in an account, as its not my "free and clear" money.What do...
Rob Singh
Best Laundry Options for Landlords in Multi-Family ?
Hello,
I am acquiring a 6 unit multi-family property. My first one!! What is the most effective option for new landlords? Coin Laundry service? Owner Operated or 3rd party? I don't want to deal with on-going srevice ...
Ki Lee
how to reconcile tenant credit/balance on closing
Scenario - 4 unitsUnit A - rent $500. Paid on time 0 balanceUnit B - rent $500. Did not pay. $500 balanceUnit C - rent $500. prepaid next month's rent - $500 creditU...
John Pipitone
Moving Property from Flip to Rental
I purchased a property in Dallas well below market value from a wholesaler in October 2016. I fixed it up and put it on the market in February 2017. In the next couple months, I got a couple offers, but they fell th...
Mike B.
Newbie Question - Tenant Screening
So first time landlord here again. We had trouble finding good tenants earlier in the winter, so we pulled our listing off Zillow for a few weeks and then relisted our property yesterday with a 3% lower rent. I'm so a...
Andy Sabisch
Question on seller contributions
Well as the market shifts thanks to the interest rate hikes, the offers one receives also change. Wanted to get perspective on this offer. We have a small flip house that we listed for $98K (I know, market drives pr...