Sarp Ka
Cannot close the contract due to seller; what happens now?
Hello there,I've been under contract and originally closing date was 45 days. Unfortunately seller's lien has some issues and this is keep getting delayed. The contract has passed all the contingencies that I've put (...
Atanas Gyulev
Can you give your opinion please
Everyone around me is telling me this is not a good buy , but also non of them is RI . What you guys think about this property. My idea is to convert it to 3 units. Medium rent in the area is 1600$ for SF https://www...
Jean Bolger
What do you think of this seller's Schedule E...
I was looking at a group of 4 fourplexes as a package deal. I had done my projections (yay! 50% rule) and things were looking good. Showed it to my lender, things were looking quite good. (yay!) Then, I get the seller...
David Li
Prospect Can't Pay Full Desposit
Hello, I have a prospect (family) whom I have already approved, but I am requesting 2 months deposit instead of the standard 1 month due to their less than ideal credit. They initially agreed verbally, but now they ar...
Rob Lee
How to Generate More Cashflow Before the Banks Stop Lending???
Hey guys! So My buddy and I were talking yesterday about the corona drama and our rentals. We were talking worst case scenario. He was telling me that he doesn’t make much from his 3 rental properties (3 SFH) and th...
Chris Seveney
Owner Financed Deal - is it worth it?
Here is a 10,000 foot view of a deal that was brought to me. All of the information pertaining to income and expenses needs to be verified. The homeowner wants to sell due to age and health issues as they were also se...
Jeffrey J.
Accredited Status - Net Worth Requirement
Random question that I couldn't find when searching BP. When calculating your net worth for accredited status, how are investments in syndications treated? Are they completely excluded from the calculation or are we a...
Andrey Y.
Cash out refinance closing costs
Ladies and gentlemen,What would you folks except closing costs to be on a cash out refinance in the amount of $150,000 (lender and escrow fees)? Say the transaction has zero points. Would you expect it to vary much fr...
Pavlos Kasselouris
Buying a property with tenant in place
I read the other posts about this matter, so I'll ask directly my unanswered question:How to I assume the lease contract in place? Do I change the name of the landlord and have the tenants initial and me signing at th...
Oleksandr Ivanovskiy
Tax Write off the loses on realestate
My tax advisor stated that I can’t write off the loses on rental properties since my personal income exceeded 150k.How true is it?