Lauren M.
Security Deposit withholding not knowing prior condition
We bought a junker of a rental property that we hoped to renovate to improve rental income and equity. The tenants moved out. We do not know the prior condition of the property before the current tenants moved in, but...
Steve Smith
How does this work - Tenant's Partial Rent Payment
Fellow BP Colleagues,
Requesting your thought provoking guidance on the following hypothetical situation in California:
The tenancy is month to month and per the signed agreement, the tenant must deposit monthly ren...
Jason Blasenak
Dishwasher repair
I bought a mobile home with renters in place. They stated that the dishwasher was not working and I therefore replaced it. Within 2 weeks they broke the new dishwasher. What is my obligation with fixing appliances....
Hector Rivas
Wholesaling On-Market Properties
I’m 18 years old and I’m trying to get into wholesaling real estate. I’m running into the problem of providing POF’s. How can I go about this? I know grabbing a random POF’s letter is consider fraud, etc. I’m not gonn...
Tyler Speelman
Appraiser used wrong purchase price. How to proceed?
Hey BP,I received an appraisal back below purchase price and realized appraiser used initial offer and not the accepted counter offer on the appraisal report. Now there is an appraisal gap of 10k. I spoke to lender an...
Greg Miller
26 units on 26 acres!
Investment Info:
Large multi-family (5+ units) buy & hold investment.
Purchase price: $1,200,000
Cash invested: $280,000
26 unit apartment building sits on 26 acres in the Village of Pulaski. We...
Mark Hu
Loan conditionally approved, can release contingency now?
Our loan is 'conditionally' approved. So is it safe to remove the loan contingency in our escrow? Or not?! I know after contingency is removed our earnest money is toast.
Thanks
Spencer I.
Great deal, Can't find mortgage release, Seller paid off years ago
I have a deal with a great potential profit. The property has been vacant for a few years, and the seller is highly motivated. Title came back with a lein for $65k from the original mortgage company. The seller inform...
Norma Cole
Analyze the deal
I am interested in investing in multi-family 5-50 unit (small apartments).What are the most important factors to consider when analyzing a deal for the first time? What can be done to quickly get a general idea if it...
Alex Ferraro
City of Chicago HVAC Inspection
Hi Chicago BP,
My contractor and I scheduled a mid-way HVAC inspection two weeks ago for today, and the inspector did not confirm or show up. The soonest the city website will let us reschedule the inspection is June...