Kelly Rastatter
First sale - inspector found issues - need new gc
We are selling our first sfh and the buyer has asked for several repairs including a cracked footer. We had a gc look at the minor cracks and said it wasn't a concern but when our agent asked him to write a letter and...
Chris Blackburn
What is the responsibility of the member paid a 3% loan guarantee fee?
Any real-life experience of understanding if a member was paid a 3% loan guarantee fee, (on top of a similar 70% fee from USDA) what responsibilities that paid member may have in with the project or loan? (vague, I k...
Ayman Elmasik
Houston flood home that would not sell - exit strategy ALF
Hello,I have a house that was flooded in Harvey (Aug. 2017) for the first time (to my knowledge as I bought it from a wholesaler with no disclosure) .The house is one story with three bedrooms (one of them is a master...
Craig S.
Lease Agreement Question - New Property Purchase
Hello, I am purchasing some apartment units with existing tenants and leases in place. When I acquire a new property, I have the seller give me a lease assignment agreement, assigning the leases legally over to me. Th...
Michael Medaglia
Proving “Use” Requirement for Full Exclusion of Gain
My wife and I are approaching 2 years of ownership and use of our only home as our primary residence in which case we should qualify for full $500 exclusion of capital gains upon sale. The problem is she is not on the...
Trace P.
How much to reinforce bowing/cracked brick walls?
Hi guys, I am in contract on a property, it is 80+ years old but pretty well maintained on the inside, plus a stable tenant who has been there for several years. The only major problem that the professional home inspe...
Emmanuel Sasu
Sherman Bridge Lending User Beware!!
Sherman Bridge Lending-User BewareFalse promises, bait and switch hidden fees and spiked interest rates.Name of their game-- keep you locked in the hard money as long as possible.I've been using Sherman Bridge for the...
Andrea Gillis
Tenant Screening Red Flag? Asking for advice and opinions
First some background: I am screening tenants to rent a room in a house I am living in.tl;dr: Seems that the applicant was rushing when filling out the application and had many errors in the application - not obvious ...
Justin Escajeda
Selling drugs??
Hello all, I need some advice on a situation I am in right now. The particular property I have an issue with is a stacked duplex. The bottom tenant is a single mom (of a 19 years old), she works al the time and s...
Steve S.
Buying a 1940 house as a rental
From reading on here and listening to the podcasts, it seems this isn't too uncommon in the rust belt. However, I'm looking to do this in Texas for about $65,000. It would cash flow around 17% based on projected ren...