Erik Garland
Help on self funding my LLC
Okay BP family. I've funded my own portfolio since inception. Please help with the tax implications. I have made my LLC personal loans from myself with reasonable interest rate, amortization, etc. I understand the...
Danielle Levy
Named insured is personal name but title under LLC
Hello - I have an investment property that unfortunately had a fire. The property has a mortgage on it but I used a quit-claim-deed right after the purchase to transfer ownership to avoid any liability issues. I know ...
Gillian C.
What happens if there is a fire in an illegal unit?
Tons of investors I know have illegal units in their buildings, especially ground-floor units. So what happens if there is an incident (fire, for example) that originates in and/or harms someone in an illegal unit? Ar...
James Heller
What can you do if a seller has renters?
I've come across a few cases where a motivated renter has renters. This is fairly easy to deal with if they are month to month, but how about a year or more?? Some landlords have renters they are really not happy with...
Aj Green
Cancelling Home Purchase (Buyer)
Hey, would I be able to get out of a home purchase with this clause I put in? Their a/c starting leaking and has missing ductwork, and is blowing air in random places. The contract was a simple 3 page one and I wrote ...
David Ivy
Austin Plans Crackdown on Unlicensed Short-Term Rentals
The City of Austin has entered into a pilot contract with Seattle-based company, Host Compliance, to provide data on short-term rentals in the city. A Code Department memo issued July 19 this year reports more than 10...
Aramis Brown
Seeking advice for a potential deal gone bad.
So I entered into a contract with a longtime associate. The deal was solid and straight forward. The complication came when the company that granted a construction loan panicked due to Covid - 19 shutdown. They placed...
Shana Kellman
Turning down a tenant MTR
Hi my fellow BP Rock Stars,Is there any legal issue with turning down a tenant application for MTR simply because we are able to secure a different tenant for a longer stay?Thank you in advance for your advice,Shana
Jennifer Bailey
Question for underwriters and lenders
Hi all,
I currently have an offer in for a home. Inspections are all done and was smooth sailing but now our lender is questioning why we don't want to break our lease. We didn't expect to find our home so soon and s...
Kayla D.
Chicago Shared Housing Application Denial
Hi all! Hoping for some advice here.I purchased my first 2 unit Oct 22 and currently occupy the 1st unit duplex as my primary home. In November I submitted my shared-housing application to Chicago’s BACP, with the hop...