Yengkong Sayaovong
Private Money and Hard Money Lenders
I already have 2 homes. A single and a duplex. I bought the single home with a traditional mortgage at the time because I didn't know about PML and HML yet. The duplex I paid for in cash.I'm looking to purchase anothe...
Wesley W.
LLCs to hold out-of-state RE
Hello all,Is it permissible to form an LLC is one state, but then use that entity to hold RE in another state?The reason I ask is I have some LLCs in my home state that currently do not hold any assets, but I am looki...
Luke S.
Credit card rent payments (upcharge?)
I just picked up some units this week and some of the residents are used to paying with a credit card.
If i get a 'square' and use that to pay for them, it will likely cost me %2.75 of their rent to do it.
...
Deborah Drexler
Choosing a Hard Money Lender
Hi I am looking for hard money for a deal I am doing in Norfolk County. The house will not qualify for conventional financing. I will be putting down 50% of the asking price. There are so many Hard Money Lenders o...
Jihyeon Park
Canceled Application fee refund
My landlord choose me as a tenant and changed her mind in last minute. She even didn't let me know her change of her mind until I texted her as no one was contacting me. I didn't sign a lease, but I have her text that...
Parag D.
How to market a new home rental?
Hi folks - I am new to real estate investment. I am building a new home in a new subdivision. The home will be ready for occupancy by August 1st. What are the ways to market the home so that I can get a renter by Augu...
Renee Edmondson
Hard money lender scam?
Hey all! So I’m trying to close on my first fix and flip property. After weeks of getting the run around from a previous lender, my title company and myself decided I needed to seek lending elsewhere. I had posted on ...
Scott J.
How to Handle Consistent, Yet Profitable, Late Payments?
I have a tenant that takes immaculate care of my property. They are a good family that fell on hard times in the recession. They have great long-term rental history as well.
Unfortunately, they have been late...
Account Closed
Hard Money pts considered part of closing costs or separate?
Hi folks,
Hopefully a simple question.
I talked to a private lender recently and asked what typical closing costs were. I was told $5-6k, which didn't shock me too much.
Later in the conversation I asked what the...
Kevin Galus
Security Deposits
How do you handle security deposits? I know that they are placed in a seperate account, but I am wondering how to account for non-refundable pet fees? Can I treat this as income and move it to my day-to-day checking...