David Capote
silent wrap-second mortgage-how easy is it to refinance?
silent wrap-second mortgage-how easy is it to refinance?I have a seller offering me a silent wrap second mortgage. He says I'll get an affidavit of equitable interest at closing and my payments to him are escrowed and...
Bob Malecki
Non borrower occupied not to borrower occupied?
I'm working with a seller of a note who is selling a note on a SFR in N. Carolina. He sold the home and carried paper to an investor who bought it for a rental. We are looking to buy the note but the seller just infor...
Nelson Taylor
Partnership & Equity Structure
I am not sure if this is the right place for this question, but I am a real estate broker and an investor. I recently joined an equal partnership with two others--1/3 investment, 1/3 work, 1/3 equity. In pursuit and...
Account Closed
How the Process of Selling a Home May Chnage
Five Ways Buying and Selling a House Could Change
The National Association of Realtors has agreed to change its policies to settle several lawsuits brought by home sellers — a move that could reduce commissions.A set...
Srini K.
Buying a car
Can I buy a new or old car that i would be using significantly for driving for dollars, or tenant related issues and claim depreciation.Is it required that the car needs to be on your LLC or can it be on your personal...
Jerry McGinnis
Credit Scores for Screening
We have been very strict adhering to a minimum of a 640 credit score for applicant and 3 months rent in gross income but we are struggling to get tenants for our properties. We are now at 4 weeks and still not a tenan...
Lenny Reinstein
Help a beginner buy the right replacement toilets
I need to replace the 2 old toilets. I measured the rough in as seen below. Seems that I need to buy the 14 inch rough in toilets (which is hard, because only few models are available at Home Depot and Lowes, since th...
Drew Whitson
Owning a vehicle in my LLC: Tax Questions!
My wife and I have an LLC which holds a small portfolio of single family homes. I am considering purchasing a vehicle to be titled in the LLC. My thinking is that the deprecation + gas + insurance + maintenance i...
Erick Ayapana
Lease Agreement Scared Away Airbnb Prospect
A few days ago I finally listed my first rental property on Airbnb as a MTR (due to Long Beach regulations regarding ADUs). Today someone made a reservation request for a month-long stay. She was initially fine with a...
Tom Server
Sec 8 increase to fmr wants to see rent roll
I have a triplex with one Section 8 tenant. Pays $950
Since I inherited the tenant, and the prior owner never raised the rent of section 8.
When I emailed DCA agent with the increase, I told her i wanted to raise it...