Erik Sherburne
Best Practice for multiple acceptable applications
Curious what your best practice is when you get multiple applications that all meet your criteria. First come first serve? Best application? Roll the dice?
Mike H.
Buying additional investment real estate w/ loan
I own multiple rental properties and now interested to aquire another piece. Bank just told me that I might require to pay up to 30% of downpayment because I own multiple properties. How does everyone do their fina...
Kathy Collins
What are the chances?
A friend of mine owns a home that is going into foreclosure. It would appear that when the last appraisal was done, a vacant parcel that she also owns was taken into consideration to reach the appraised value. This ...
Donald Jaronsky
Selling my 5.5 acre property with 8000 sq ft barn to start my real estate journey
Hey guys, I have a 5.5 acre property in blairstown NJ. I was running my landscape construction business out of it. I have a 8000 square-foot barn with 1/2 bath and it is plumbed for another half bath on the second lev...
David Stone
Deny applicants because ONE doesn't fit minimum qualifications?
Hi, I have a couple who applied for one of my units. I have not had the best gut feeling about them from the beginning. After running their applications (background check, credit, etc.) everything has come back satis...
Jeremy Toney
How to Use Your Joint Tenant Property Deed
What can you do with, or how can you use a property deed that you jointly own with multiple people?My grandmother, when she passed, God rest, left a piece of land for me, my father and sister. The land does have sign...
Tongcheng Li
Question about seller fix credit usage
Hi BP, I am Tongcheng, a new investor in Chicago who bought my first buy-and-hold triplex in March this year (near a university 2-hours drive from Chicago). I think I am not sure how can seller's credit for fix be use...
Bernie Huckestein
3x Income
Looking for some clarification on the rule for 3x the lease amount in gross income. How does this relate to multiple tenants in the same apartment...specifically:1) In a situation where tenants are husband and wife w...
Dan Weber
Tax Implications of Adding a Partner to LLC
To all of the CPAs out there - I need help! I have an LLC that is the owner of multiple rental properties. This is currently a single member LLC that does not currently have an EIN. What are the tax implications of ad...
Vasant R.
Putting offers in on properties - Be 1st or be last
I've been having a hard time finding a property to purchase. As soon as I seem to find a decent property there are multiple offers on it. I've ended up putting in the offer anyway, but nothing has come out of it yet. ...