Christopher Morin
Closed the first Sub2!
Whew! After a hectic 3 weeks getting ready for my first ever sub2 purchase, we closed yesterday! I used) documents that a local lawyer put together for me. Took 3 hours of his time to put them together (8 pages of...
Gaurav Mehta
Tax Deductions for Investment Property not yet rented
Hi,I bought an investment property in July 2019 (all cash purchase). Took me some time to remodel it. Had to fix everything. Spent $12.5K on roof (did through a roof company) and then around $55K on everything else (w...
Shane Duncan
Will using income to pay downpayment from HELOC pierce the LLC corporate veil?
I am closing on a multi-family soon and the mortgage will be in the LLC's name. All income and expenses will be handled by the LLC. The problem is that I am using a HELOC to assist with the downpayment for the loan. I...
Matt Nelson
1st time Landord; maybe? Please help me understand!!
Hey, Everyone!Im relocating out of state and Im trying to get a financially realistic idea if I should rent my house out or sell it. I dont know how the homeowner to landlord "business" aspects play out and im really ...
Andrew Martin
Insurance
I'm currently using safeco for my rentals, but I want to do some rate shopping. Any recommendations for a new insurance provider? Who is awesome with low rates?
Jeff Morrison
Water damage to someone else's condo
Hi BP!! I received a text this morning that my tenant had left the water running in the kitchen sink, and it overflowed to the condo below. I spoke with the owner of the other condo and she sent pics, the water is o...
James Ross
Short vs Long Term Rental Recurring Costs Summarized
Hello Bigger Pockets! In keeping with my habit of “do some research, write a post,” I’ve been looking into short and mid-term rentals as compared with a more “normal” long term rental. Specifically I’ve been trying ...
Pixel Rogue
Creating a real estate management company...
Considering creating (or repurposing an existing llc to) a small real estate management company, specifically to manage properties that we already manage (we are a married couple w/a small portfolio and handle 85% of ...
Allen Lopez
Does this sound like BS?
So I found an apartment complex in Baton Rouge la. 4 units, ROI is 12%. But the realtor is telling me this:
“Also, I forgot to mention that if you will be required to pay one time fees for title transfers this fee wi...
Leah Shanker
HOA pays for water/sewer/garbage?
I’m looking at purchasing multifamily property in the Phoenix area and noticing a trend of listings with HOA dues covering water, sewer & garbage. Does anyone have experience with this type of setup? A few questio...