Account Closed
FHA loan or wait until I can afford a conventional
I own just one duplex that I purchased with a conventional loan and owner occupy. The mortagage is covered by the rent, plus I have $155 positive cash flow. I'm considering an FHA loan on a second duplex that I will...
Rachel H.
Rent to Tenants with Large Credit Card Debt?
Hi everyone. I have applicants (a professional couple in their thirties) to rent a single-family home I own. They seem like fine people - no reason to believe otherwise. Their combined income is 7x rent. Their credit ...
Craig C.
How do you protect against bad tenates?
Hi, I've been doing a lot of research in my Area, and the surrounding area, and I have spoken with 3 different landlords who have given me a similar answer to the question above:
Q: "How do you protect agains...
Jaskanwal Preet Singh Chhabra
Permitting for adding more rooms without changing sq ft
Hello, I am an investor in Austin, Tx. I am looking at a 4 bed 2.5 bath property in Pfugerville, TX that I am planning to rent out as a co-living space (rent by the room on Padsplit). I will be converting it into a 8 ...
Andrew Taylor
This Seems Like a Winner: What Say You, BP?
I'm closing in on my first REI deal, and I think I found myself a doozy.Sales price $2.6m20% DP = $520kClosing Costs = ~$39kLoan Amount = $2.119mGSI = $385,095Gross Income = $365,840Expenses = $140,778NOI = $225,062CA...
T M
new carpet in a rental
I have a renter in a one bedroom thats lease is up in a couple of months. he has already moved out to live with his girlfriend but is still paying rent. im trying to get someone else in there to help him out. If I ...
Marqus Freeman
"SAFE" Investment Ideas & Strategies for Today's Climate - GO!
A partner and I discussed shifting our attention to large section-8 rental communities for the consistent income - anyone familiar with the space & barriers to entry? Thoughts?You are ALL Awesome
Shea Spinelli
Deduct or Capitalize - Placed in Service Exception
Hey BP Members, quick question. We purchased 12 units in July 2017. In November 2017 we added an additional unit. Wouldn't we qualify for the exception @Brandon Hall discussed as Myth #5 in his article '7 Common Myth...
Dawal Limbachia
2% rule before buying a rental property?
Hello everyone,In one of the BP podcast, Brandon Turner said that the 2% rule works for him in general. According to him, for example, if the property is listed for $100k, then the expected rent should be at least 2k ...
Justin Dossey
Is Wholesaling Lease options worth it?
Hey everyone,I recently listened to Joe McCall speak about Wholesaling Lease Options at a local REI meetup here in St. Louis. The whole process seems very interesting to me. The process seems pretty straight forward a...