Leo B.
1031 exchange to purchase a fix and flip
Hello all-Would I be able to purchase a fix and flip project with 1031 proceeds? Below is just an example of a scenario.Original purchase price of rental home is $425K$400K loan balance$500K sale$15K closing costs$85K...
Kevin Verger
Experian Account Setup
Hi BP Members,I need to get an account for Experian skip tracing services.I have a commercial space which I use for my real estate business, locked doors, etc.I have a business license, and real estate license.So the ...
Account Closed
Starting a Hard Money Company
I will be moving to Utah in two weeks to help start and run a Hard Money Lending company for my uncle. He has the business setup has done roughly 10 deals and wants to teach me the business. I’ve listened to every big...
Leonard Nester
Commercial Opportunity - Buying a Business
I have a great opportunity to purchase and operate a turnkey business. Being a novice , does anyone have any insight as to how to proceed? Are there any lenders doing 100% loans ? Any information is welcome as the com...
Sendhil Krishnan
Can I 1031 from a syndicated land deal?
A group of investors including myself purchased land in the Midwest which has been developed for sale to be bought by builders. My question is I want to be able to 1031 exchange my proceeds from this development proje...
Brian H.
Help figuring out a lending issue for deal w/multiple buildings
Hi!So, I am under contract for 11 rental units in 5 buildings. 3 units in one, 2 units in the other four buildings, all on two side by side properties.I am being told I cannot, per Fannie and Freddie guidelines, finan...
Nat Kelley
New Member in East Texas
Hi, my name is Nat, I live in East Texas. In 2005 I bought property that included a 70 year old General Store converted to cafe (7 yr owner finance-paid for with proceeds from running cafe myself), a 1940 Art...
N/A N/A
Not much cash, but decent equity and perfect credit
Hello everyone-
I've been in my condo for a little over two years now and after some modest improvements, I'm very sure I have $50,000 or so in equity. I also have a FICO score that teeters around 800, but my proble...
Hans Restuccia
Would anyone care to share the contents of their BUSINESS PURPOSE AFFIDAVIT??
Here is some language from the one we are using:
2. The entire proceeds of this loan are to be used for a business purpose and not for personal use and the property will be rented for a period in excess of 12 months....
Grant Schwarz
Gringo LLC question!
Being new to the US, I'm still learning about the broader pieces of the investment puzzle like Trusts, LLC's etc etc that are frequently suggested - apologies if this is a daft question!With an LLC, do you also need t...