Thomasina Pearce
getting approved for conventional loan as contract worker
Hi BP family! Are there any investors whose primary source of income is 1099 or other contract work? If so, any tips on how to appear as stronger candidate for conventional loan? Especially if your income fluctuates m...
Sam Leon
Reimburse tenant for major inconvenience?
I have a major plumbing issue at a SFR rental that involves a complicated solution. Don't want to get into details but it requires coordinated activities with three separate trades, and bottom line is my tenant is no...
Brian Gallagher
I'm new to real estate not sure what to do
Bought my first rental (5plex) in June. Last week had a tenant (that came with the building) decided he wants to move to Florida with 7 months left in his lease. Asked if someone could take over his lease or be added ...
Account Closed
How to back out of purchase w financing contingency
Looking for advice from any mortgage professionals.. I need to get out of a purchase contract which is only subject to a financing contingency at this point. I basically changed my mind due to recent personal life de...
Account Closed
Really liking note income
Most of my income is derived from re-sales. I cash out of most of my re-sale deals and usually only carry paper in order to solve a problem. However, this year I created two small seller carryback notes as a way of ...
David Gore
Tax Questions on Installment Sale of Inherited Property
My grandfather passed away two years ago. My mother inherited the home, but wants me to have the proceeds from the sale of the home.I have a potential buyer interested in a land contract.I need to determine the best w...
Ryan Daulton
Tenant property destruction
How do we protect ourselves from a tenant causing us significant damage in excess of the deposit amount? e.g. if we add a clause to the lease contract stating they will be liable for all charges due to their purposef...
Martin Pena
House Hacking an occupied duplex
If i am planning on house hacking a duplex. How do i go about living in one unit if both are already rented? Do i inform one of the tenants that i am moving in and give them a certain time frame for them to leave or d...
Kathy Judd
Trying to offer on US Bank Owned
A property in a nicer community in town come on the MLS about 10 days ago. The property needs some TLC but it's backed to a river. Owned by US Bank and listed at $350k. There is an immaculate property on the same stre...
Ron Todd
Listed with an agent for sale/rent then found a renter on my own
Hi BP,
I listed a house for rent/for sale with an agent in NJ. I haven't been impressed with her work so far and went ahead and found a renter on my own. We had agreed on first months rent as a finder's fee, but I en...