Account Closed
Best practices for bookkeeping if not under LLC
Hello,I’m closing on my first deal and have decided to hold off on putting the property under a LLC. Since I wouldn’t have an EIN to create a business checking account, am I allowed to simply open a new personal check...
Chan M Stagg
rent to own properties
I was looking for some answers to the generalized subject of renting to own a property to a buyer. My two biggest questions are, is it legal to do this on a home that has a mortgage or line of credit attached to it? A...
Account Closed
leins
How do I find out if there are any leins of any kind on a property?
ofgift
Kristy Wagner
Chicago Auctions
Hi there,I am interested in pursuing auction properties in Chicago, but I understand the competition is steep. Has anyone successfully purchased a property at auction and have any tips/advice? I am trying to underst...
Ed S.
Opinions Please - Lincoln Park, Chicago
Greetings BP,Long time lurker, first time poster. I've been renting in Chicago for 3 years, and I am ready to make the move into a home purchase.Objectives:Buy multiunit building and hold for ~10 yearsStay near lakesh...
Tom Camarda
Best way to keep purchasing
Greeting BP communityQuestion for you all. I currently only qualify for conventional mortgages via Freddie Mac, which caps my loans at 6. I currently have 6 properties (including my primary) so I have reached my limit...
Mike Shemp
LLC setup and Avoiding The Due on Sales Clause w/ land trust?
Hi All,I am looking for any thoughts or guidance on setting up an LLC. We have a rental property in North Carolina that has a mortgage. We would like to move it into an LLC. We spoke to one asset protection attorne...
Alex T.
Would you take this deal? If so, how? - Boston, MA
Many of you probably know that meeting 1% rule in good parts of Boston is all but impossible (0.5% seems the norm). One of the areas I've started researching more here is Chelsea/Everett/East Boston/Revere, since the ...
Jimmy S.
Collection agency?
I have evicted a tenant got a judgement from the court. I know I probably wont have any luck but is it worth it to turn it over to collection agency if they can collect anything?How do I find a collection agency that ...
Edward Stephens
Transferring Real Estate into an Entity - Due on Sale?
Dear BP Family, I'll soon be the owner of a piece of real estate, and want to enjoy the asset protection afforded by an LLC. Has anyone on BP been successful in transferring ownership of mortgaged real estate from t...