Andrew Jones
Refinancing a Note
Hello BP,
I purchased a 5+ unit property in the past year where the seller carried financing and he currently holds a note. He contacted me seeing if I could cash him out and he would agree to reduce the principle of...
Michael P.
Couple Owner Finance Related Questions
I have a couple questions hopefully someone on here can answer one or both.
1. I recently sold a house that had a first and a second note I made to the buyer. The second was due and she paid off the principal howev...
Patrick Jacques
Foreclosed with unpaid balance
While looking at properties I'll come across a property that says "foreclosed , unpaid balance of $ ". What does this amount mean? How is the unpaid balance taken care of? By who?
Richard Heineman
Velocity Banking Strategy
I'm interested in implementing the velocity banking startegy to pay down debt quickly. However, I don't own a home or any property for that matter. Can I set up an LLC for my business and build up my business credit...
Steve Driscoll
Tax Implications for Seller who is owner financing personal home
I am interested in purchasing the home of an elderly couple who wants to sell. They have owned the home for a long time and have seen 10x appreciation. This is their personal home. In the event they owner finance, ...
Account Closed
Will my primary residence cash flow?
So I've been reading about the 2%/50% rules on rental properties, but would still appreciate your opinions on my primary residence as a rental. Here are the numbers:
67k owed on the property
$1, 000-1, ...
Walker Seid
Taxes
Lets say I rent a house out for $1200/month. My mortgage is $560. Expenses are (taxes $150, HOA $30, Ins $25) $205/month. Do I pay taxes on $1200 or just $435?
William Sageser
Any idea how this bailout will affect our short sales?
Hey guys how do you think this Bailout will mess with our ability to
Negotiate with Banks and Sellers? Too early to tell? Any thoughts what floor on prices will result? Are 2nd's protected by this bill? ...
Mike Chubb
Abandon home-taxes owed are more than the property is worth
hello everyone this is a property that I have had on my mind for quite along time can anyone (which I don't think anyone can) tell me if there is any sort of creative idea that works with this kind of problem? What h...
Nicholas Maclure
Loan Spreadsheet which calculates Loan Balance
Hey All, So we privately financed a Real Estate Sale and the borrower is way behind on payments so we need to initiate a foreclosure. The borrow made a number of partial payments and missed a lot of payments so I ne...