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Does adding ADU to 4plex change from residential to commercial?
This question may be specific to places like Portland where the city encourages density by allowing accessory dwelling units (ADUs) to be added to properties in residential zones.If I purchase a 4-plex (zoned resident...
Michael Plaks
Pointless to apply for EIDL loans right now
We all got excited about the EIDL loans from SBA: $10k free advance that does not have to be repaid, and then some great terms on up to $2M loans.
We celebrated too early. First we learned that it is not $10k. It is...
Kyle Grimm
Bank needs personal financial statement
Hi everyone!When I go to the bank for a new loan, they require me to fill out a personal financial statement. I own more properties than what they give me room for on their spreadsheet. I am simply wondering if anyo...
Lisa Misuraca
Should I keep it or flip it?
We just purchased a 3/2 single family home with an attached 1/1 guest house.Great area of single family homes. Ready to rent with 850.00 and 450.00 projected rents. We will pay water only.Home value would be around 1...
Jason Green
Foreclosure Help on a Non-REO deal
I found a foreclosure in a fantastic area where I live and was actually told about it by a neighbor. I have bought REO and at the Courthouse steps but this one has me stumped. Its empty and appears to have been for a ...
Haiyang A.
What liens/judgments survive Sheriff Sale in Ohio?
I am looking at a bank foreclosure that will be sold by county sheriff at the courthouse step in Ohio. A title search revealed several liens against its owner (breach of contract, credit card judgment) as well as mult...
Kyle Doney
Foreclosure & Probate At The Same Time
I have a seller that is in Probate currently. Her husband passed and she is not on title. During this time the property has gone into foreclosure and the bank is trying to take the house. Apparently the banks attorney...
Alex Witte
Financing Larger Purchases in Milwaukee Wi - Commercial Lending?
I have been evaluating larger deals. An example is the attached numbers. It is a portfolio purchase for 10 properties. My question is: How is a relatively new investor able to finance these larger deals to scale my op...
Billy Ross
Why a bank doesn't record a deed until closing?
We purchase 5-7 REO's each month, and I have always had this question...
On at least 80% of the deals we do, the bank has not recorded the deed or CT, and they do not until right before closing. While it does not aff...
Thomas B.
Rate & Term Refinance. Partly (1 of 3 units) Renovated.
I bought my 1st Investment Property back in June using $99K cash offer from a HELOC. I knew going in that it needed extensive repairs including new roof and foundation work and probably a rewire. I figured a $50k 401K...