Greg Shyne
Should I continue to pursue this deal??
Hello all, I finally got my first property under contract recently. ARV is about 120k. Contracted price is 77,500. The home needs work (foundation, roof, and cosmetic updates). My contractor gave me a bid of around 46...
Leeling Chew
Which interest rate is better?
We were given these two options when we refinanced our house recently: 5.25% with $8000 cost OR 5.875%. My husband chose 5.875% with the following reasoning:"If I had applied for a 5.25% rate for a $401250 loan, the l...
Svend W.
Heat pumps in Chicago
Hi, allI have an old 2 flat which needs central heat and AC to be added (it currently has gas powered fireplaces and a window AC).I'm leaning towards going with heat pumps for the following reasons:* One appliance ins...
Celia McIntosh
Maintenance Costs in Metro-Detroit
Hello, After lurking on Bigger Pockets for a few months I am finally making some moves to invest in my first property. I decided to invest in Metro Detroit (not Detroit proper) since it is more affordable than where I...
Randall Re II
[Calc Review] Help me analyze this deal
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*This link comes directly from our calculators, based on information input by the member who posted.
Pearce G.
Cost basis on subdividing
I have a commercial zone property under contract that includes a building that I intend to hold for rental income and some additional vacant land that I intend to subdivide from the building and then flip.For tax purp...
Patrick Desjardins
Have to reschedule auction for the 6th time
One of our notes in Florida just went up for auction for a 5th time and once again it needs to be rescheduled.
This has to be some kind of record?
Every time this happens, we have to see the judge and waste another ...
Daniel Lehman
Minimum mortgage amount
What is the minimum amount a house can be mortgaged for? I was told 65k but that would mean I can't get a conventional loan for anything less than around 80k or so figuring in for subtracting the down payment. This ca...
Allen Wu
Lender recommending a 10 year fixed loan
Hello,Curious. I’m buying a primary home and all lenders pushing the 10 year fixed loan (variable after 10 years). Why are lenders pushing this? I wanted a 30 year that will cost 0.50% more but lenders all pushing me ...
Katie Anderson
Accounting for Closing Costs?
How do you account for closing settlement charges and expenses such as escrow fee, title insurance, wire/notary fees, recording fees, items payable in connection with a loan (on the seller side), appraisal fees, etc.....