John Lewis
Owner of property deceased with no will
Maybe someone can clear this up for me a little bit. I've been doing some searching but it's still a little hazy. There is a property I'm interested in that has been abandoned for a few years now. A childhood frien...
John Miller
HUD has Kept My $5,000 EMD
In March of 2012 I attempted to buy a HUD foreclosure house. The house was misrepresented as a 2 bath home and had extensive damage not shown on HUD’s inspection or appraisal. After I had my inspection completed I can...
Phillip S.
Upstairs tenant overflowed tub, insurance won't pay
This has happened twice now in a span of less than 6 months. The property is a duplex with a tenant living in the upstairs unit and the downstairs unit is presently vacant. The upstairs tenant overflowed the tub (ag...
Sam Mathew
THROW ME YOUR BEST AND HIGHEST OPINION
Hello Bigger Pockets Members,Here is the situation: I won an third-party auction bid for a bank foreclosed single family home. My bid was the highestest $425k but did not meet the reserve and so the bank may still c...
Sebastian Gast
What is truly owner occupancy?
Not sure if this is an innovative strategy or just illegal but I would like some input. I have a friend who bought several rentals ALL with primary occupant loans (3.5-5% down). What he does is include utilities ...
Ed B.
Question about Purchase offer in Texas
I just had a Texas Realtor send me purchase contract for an offer I want to make. I was surprised to see the usual inspection clause encumbered with the language that says the buyer needs to pay a non-refundable "op...
Julie Taylor
Pre-Auction Offer
Good afternoon BP Community! Thanks in advance to all of you who provide very helpful, extremely friendly advice. I love learning from you all!
I am looking at making an offer on a church property that is scheduled...
Danny Duran
Land Trust Acquisition Complications with Fannie & Freddie Backed Loans
BP Community--Happy Thanksgiving!I am about to close on a property in Chicago (in two weeks). I just asked my lender if there are any issues with purchasing the property via land trust. He researched guidelines for co...
Matt John
Rehab costs - add to basis or take loss that year?
When you purchase a property and immediately rehab before renting out, do you add the cost of the rehab to your basis of the property, or do you take a loss that year? Does it make a difference if you have a bunch of ...
Paul Z.
tenant wants move-out inspection done before move day
Hi there.I have a tenant moving out on Feb 29th. He asks the inspection to be done a few days beforehand. I guess it is because he would be busy moving that day. What would you suggest I do in this case? Is it a good ...