Greg P.
Using IRA to buy properties? Prviate Lender question
Hello, I have a friend of the family who has about 200k in a IRA. We spoke the other day and they want to invest in Real Estate since they have seen my success but they are also worried about taking the money out sin...
Dymond Shafer
Hard money vs. Old 401k?
Hello BP enthusiasts...My first two flips were successful, but like most, raising capital is a challenge. For our next two flips (both under contract)-- advisable to use Hard Money or my old (separated from employer)...
Jason Griffin
Security Deposit Return.
Hello BP,I had a couple sign a 1 year lease with me and pay a $1000 security deposit on May 8th. Their move in date was set for June 30th. I was notified by the couple on May 24th that they want to break their lease b...
Greg Bonhotal
Self Directed Roth IRA used for Wholesaling Real Estate
At a recent one day guru seminar, they seemed to indicate that a Self Directed Roth IRA could be used by a wholesaler to pay the down payment to a distressed seller when putting their home under contract.They used the...
Bob Floss II
Comments on Illinois Wholesale Activity
The topic of wholesale activity came up in a discussion among Illinois real estate attorneys. One attorney shared an email exchange he had with an attorney at IDFPR. I'm sharing here to help keep the community inform...
Kenji Tominaga
Pending closing the deal due to the current tenant not leaving
Happy Friday!I'm currently in the process of closing my first primary residence deal in NYC, and I would like to ask for a piece of advice to the community.The current tenant of the Seller failed to move out by the cl...
Fernando Morales
Legal duplex converted to tri or quad
I am looking to buy a triplex or quad. I have come across some legal duplexes that have been converted to either a triplex or a quad. What are the consequences that could happen if I purchase a "nonconforming" propert...
Joseph F.
Seeking a Win - Win Contract
I am plan to rehab a property. I will purchase the property and finance all of the labor and materials. I have spoken with a contractor, but have never used him before. I will make sure to vet him before I ag...
Jack Taylor
LLC vs. Personal for Fix / Flip and/or Rental
Hi, I have a self-directed IRA that I plan to use to purchase a fixer upper. I'm debating whether I should sell the house once flipped, or refinance once rehabbed and then rent it out. The question is, I can get a low...
James Erickson
Collecting late fees...
I'm taking over management of a 6 unit apartment building and I'm concerned about late fees. A couple tenants habitually pay late. The previous manager did not collect late fees ever even though penalties are spelle...