David Castagna
Tenant late on rent / eviction in Michigan
Hi BP friends,
I have a tenant that has lived in my property for 6 months and has been late 4/6 months. Typically, she is just a few days late and pays the late fee. This month, it is the 13th and she has still not ...
Mary C Carter
Annual property inspection
Hi, I have a rental property and I need to know what to include in an annual property inspection. Does this inspection need to be the same type of inspection as when purchasing a property?
Eric Guasch
Florida Mortage Servicer License - Net Worth Requirement
Hello All-I am interested in applying for the Florida Mortgage Servicer License. According to statute 494.00721, the company must maintain a net worth requirement of $250k in order to originate and service the debt on...
Danny Sok
Separating Personal and Business
Hi guys, so I’m fully renting out my first multi family property and now I’m living in my second multi family property (house hacking). I have separate checking and saving from my personal life which comes from 9-5 da...
Mark McDonough
1%- 2% rule in Boston area
I’m new here and am still in immersing myself in all the BP Blogs and pods. Just wanted to ask some experienced investors about the 1% or 2% rule. I know it’s more of a guideline than anything, but is it a realistic m...
Fran Arti
Buying all cash and then finance
Yesterday a somebody told me that he could have bought an apartment building in my city during the lockdown with almost 30% discount because the buyer needed liquidity urgently. This rose up a question in my head. I t...
Alex M.
Funding a purchase when buying with an LLC
Question in brief: When buying with an LLC, do you need to have a bank account tied to the LLC, or can a member finance the purchase, while the LLC takes title of the property?Here's the scenario: So I'm in the proces...
Julia Trudeau
Private lending using self directed 401k
I presently have a 401k. I am wondering if I wanted to set it up to do private lending out of it and so set it up to be self directed, how do I handle the portion of funds that I don’t want to lend out?
For example,...
Brice Alef-Torrisi
Managing finances between multiple properties
Hello everyone,I recently bought a second property in Michigan and I'm really excited to get it rented. However, I was unsure whether I needed to open a new bank to manage the finances associated with the property. I ...
Brandy Smith
Investor basic question
If you had $70k in your bank account, how would you invest it right now? Non-real estate