Mike M.
Do you pay your mortgage payment out of your rental account?
Curious how you all have you accounts set up. Right now I have a rental account where the deposit is made from the renter, then every month i pay my mortgage payment from my general bills account manually. I would lik...
Account Closed
FL MORTGAGE BROKER: LIST property to sell fast and save too
As a Florida Mortgage Broker for a long time now and like other Mortgage Brokers who've been in the business since the 90s, I've been involved directly or indirectly, on many thousands of purchases deals.In this selle...
Jim Froehlich
Individual 401K - Buy/Sell Land - Conflicting Info
I have an existing 401K that I am considering rolling into a solo-401K for single-member LLC side business I have. The brokerage it is with tells me that I am not allowed to invest directly into real estate or notes -...
Alecia Loveless
Contractor Won't Bill Me. Advice Please!
I've got a great general contractor. In the past 8 months he's worked at 3 of my properties. The first doing odds and ends getting it ready to be sold, maybe about $3000 worth. Then he did a major renovation to the se...
Kelly Madden
Finding a down payment!
My husband and I are trying to get into REI here in Florida. Turns out that the guidelines are SUPER stringent. (Through a lender) Minimum down payment is 20%, no gifts allowed for help, closing costs are also out of ...
Wendell De Guzman
How to Buy 20 Houses in 20 Months With Only $20K (And No Brandon, These Houses Are Not In Detroit)
I want to share something valuable with the Pro Members of BP Nation.Maybe you already know this strategy. Maybe you don't. And - this is not buying 20 houses in Detroit. :-)I know some Pro members who have used this...
Adam Purden
Would you do a 1031 Exchange if you were in our shoes?
I am in escrow on a condo we are selling for $380K. We have had so many HOA plumbing/pipe issues over the years and we are just tired of the headache. After three major water remediation and renovations, we are over t...
Bob Orange
1031 exchange, then into LLC
I have a property I would like to sell and use the 1031 exchange provision to buy another. My current property is in my personal name. I plan on exchanging into another property (possibly several) in my personal nam...
Account Closed
Medford condo- rent or sell?
Curious what other people's opinions are. I'm going to be moving into a larger house, and have been going back and forth on whether I want to sell my Medford condo or rent it. Over the past several years it has gone...
Jacob Sampson
Transfer personal home to rental business for depreciation?
Any thoughts on pro's and con's of selling my personal residence to my rental business in order to capture depreciation? Is that a IRS red flag?