Timothy Mitchell
First Multi Family Investment
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Westbrook.
Purchase price: $376,000
Cash invested: $20,000
4 Unit found on the MLS.
After acquisition:
Utilities were se...
Omar Diaz
Purchasing quad with conventional loan
Hey BP community, I'm a first time home buyer that is trying to purchase a quad with a conventional loan. My question is: do I need a 25% Downpayment on a Quad in North Carolina if I intend to occupy one unit and rent...
Maddy Lakshmanan
Restoration loan guidance
Looking to buy an investment property (40+ year) that requires significant repair
Is it worth investing in such, or wait till I save money for a better house? What are the things I should lookout for ?
Are restorat...
Scott Esmail
Multifamily insurance provider South Daytona Florida
I need to renew my 52 unit in South Daytona Florida insurance very soon. The quotes I am getting are very high . Does anyone have any recommend where I can get lowest insurance rate. Its seem that the wind coverage ...
Susan K.
Quick question on title Policy - need help ASAP
Hi Everyone,A friend of mine is negotiating on a RE contract for the sale of their home. The buyers want "An ALTA Owner's policy of title insurance without standard exceptions" checked on the contract instead of "An...
James McGovern
Best Practices in Hard Money Lending
FasterFunds Lending, a hard money lending who focuses on the Saint Louis Market has a unique take on hard money lending that I would think should be more popular.
1. No appraisal fees. They get in their cars and go s...
Josh Young
How to Become a Rental Property Investor
Talk to a lender and learn the rules of qualifying for a mortgage
You need to learn the rules that underwriters follow to be able to qualify for a mortgage. Once you learn the rules you can develop a plan to fit the...
Timothy VanWingerden
Can I write off an expense if I’m paying friends to do the work?
I had some friends help demo a property and I paid them cash (around $1,000 total). Is this something I am able to write off? Would I need to issue a 1099 for this? Not sure how this works and would appreciate the adv...
Brian May
Capital Gains for DIY Flipper
I am looking to do my first flip and trying to get a sense for how best to realize my expenses for capital gains as a DIY flipper. As a DIY flipper my labor/install expenses are significantly less than a flipper that...
Tze Chiam
Tax deduction on lodging expenses while searching for an investment property
Hi all, I recently booked an Airbnb using some Airbnb credits (that originally came from a gift card) in my account while searching for an investment property. Since the stay was booked through account credits (instea...