James Piercy
How does received a $50k gift affect taxes?
Hello Everyone,If my mother is to gift me $50k and I set up a payment plan to repay her, how does that work with taxes? I had never heard of being taxed on a gift (silly me). I was originally going to use the gift a...
Tim M.
Private lending @ 10% in Oakland, CA - good or bad deal?
Hello BP- I'm a first-time investor in Oakland, CA. I'm in contract on a duplex that I plan to owner occupy. The building is in extreme disrepair and needs extensive work, foundation, full remodels on both units, new ...
Doug DeVore
Is it better to mortgage one property or several? I paid cash.
Hello all - first time poster. Been lurking for a bit and have even been to a meetup.I have a property with $400k-$500k in equity and have paid cash for another property that I rehabbed and rented. I was planning on...
Samuel S.
Banks offering investment HELOCS
Hey BP Folks,Wanted to see if anyone has any experience with banks out there (national/regional/ credit unions etc) that are currently offering investment lines of credit? Not sure if this is a thing or not in today'...
Allen Salman
What are my best options to collect?
Hello everyone! First time posting. A former tenant owes about $4700 in damages beyond her security deposit. After the third notice, the tenant contacted me suggesting monthly payments. But she is suggesting very low ...
Fred Shandler
I may have found a private investor, but now what???
Hey guys...today I had a conversation with someone (who I distantly know/is a successful entrepreneur) about investing in rental properties. After a bunch of back-and-forth, he said he'd be willing to finance some de...
Kurt Kleespies
Foreclosure Purchase - Unpaid Taxes
Recently I was the high bidder on a foreclosure at sheriff's auction in MN and I currently hold the sheriff's certificate for the property. This is my first sheriff's auction and there were property taxes that were u...
Sandy Uhlmann
Owner Financing Addendum
When selling a property via owner financing are there any terms beyond the obvious (price, term, interest rate, late charges, ect... ) that I should have my attorney build in to the contract? I am aware of Dodd Frank....
Hoa Nguyen
Surplas of rehab funds from hard money?
Got some numbers from a hard money lender who had me itemize and budget me reno. Playing it safe, I over estimated some cost to get to the allocated budget. Question is, when the time comes and I finish work, what hap...
Angela Tanudjaja
Late fees: do you do % or flat fee?
Hello everyone,
For those who rent out their apartments, do you charge a late fee based on rent percentage or a flat fee?
If so, do you set a daily rate?
I'm asking because I'm working with a prop...