William Bentley
Tenant wants to add BF who is on Parole
Good afternoon all,
I have a tenant who wants to move in her boyfriend who is currently on parole. She is an amazing tenant. No issues. Said that I would have to talk to the parole office. Haven't been in this situat...
Ian Tudor
MFH - Down payment & Second Mortgage
Hello - I have been spoken to a mortgage broker recently about purchasing a SFH or MFH. It will be owner occupied for at least a year, if not longer. However, he said that lending institutions require at least 20% dow...
Neil Goldman
Investing with a Friend / Creating a Company
BP friends, seeking your advice. A friend and I are diving headfirst into real estate investing. Our goal is building a successful investment portfolio. I bought/financed our first rental. He bought/financed the s...
Kyle B.
Purchase Contract for Off-Market Property
Hey BP,
I just had a verbal offer accepted on an off market property. My next step is to email a purchase agreement to the sellers so they can pass it along to their attorney for review before signing. This i...
Albert D.
Potential savings if close two properties at the same time?
Is there any way to save closing costs if I buy two properties at the same time, from same seller, with same bank and same title company? I would think there should be savings on the title insurance, paperwork for ba...
Chris Barcomb
Addendums / Additions to Texas Real Estate Contract
I’m seeking guidance on my first purchase. It’s a SFH. Will be bought as is with limited contingencies. Owner is in no position financially to make any repairs, therefore price will be very low. Only contingency I can...
Bradley Johnson
FHA Loan Triplex/Fourplex
I was recently in escrow to purchase a fourplex via FHA but fell out because the property didn't meet the self sufficiency ratio. The underwriter calculated the self sufficiency ratio by taking 85% of the gross income...
John Shortridge
Title costs
So I was on the phone with my closing agent to discuss how soon we can close a REO I'm buying. She asked me, "Who is paying title." This brought up a serious of questions in my head."Does she mean title insurance? Tit...
Nikki Closser
Title company wants a standard policy without standar exceptions?
I'm under contract on an 11 unit apartment building. The title company wants to know if I will accept a standard policy without standard exceptions, which will not require a survey. Sounds like a survey would potentia...
Ken Williams
Insurance for Owner Occupied Duplex?
Hello, I am renting out the other side of a duplex that I will be living in. What type of insurance would you guys recommend for this scenario?