Albert H.
Rehab or 1031 Exchange?
I have a rent control duplex that is about to be empty in both units and I’m trying to decide whether to rehab it and re-rent it or do a 1031 exchange. The duplex is almost 100 years old with lots of deferred maintena...
Bradley M.
W2 Conventional Lending Requirements
So I keep seeing that most lenders want two years of steady W2 income in order to qualify for a mortgage. I have 2 years of tax returns, one year was 12k (gross) and the other was 14k (gross), which would most likely ...
Andy Sabisch
Renting to tenants with service animals
We are renting one unit in a building we have and the person looking at it has a German Shepard that she said is a service animal. We have a breed / weight limit on dogs based on our insurer (Steadily) which would ne...
Account Closed
Is Bank of America BSing me?
Bank of America says using its merchant services for lending money is prohibited. I then asked the representative, can i open a regular business account for my private consumer lending business where customers pay me ...
Account Closed
College Station, Whats your take?
Hey BP Crew,Looking in College Station for some deals and wanted to get your input on good/bad neighborhoods, etc. With 700 MF units coming online do you see the market becoming oversaturated against existing product?
Sasi Kumar
Single member LLC to multi-member LLC (partnership)
Hi,I am a newbie when it comes to LLC creation. Here is my scenario and the need to do it-"One main LLC is buying a few acres of land as investment next month. After conversations with main LLC folks, me and my 4 rela...
Mike Lamch
Canadian Housing Bubble
Hey,I am a wondering what people are thinking regarding a possible Canadian housing bubble. Right now house prices in Canada are skyrocketing at a record setting pace, especially in the Toronto and Vancouver areas. I ...
Daniel L.
liability of buying renovation materials
I'm a newbie investor and heard a rehab gal Robyn Thompson vehemently state one time that she would never buy materials for her renovations because it would open her up to being considered as a GC/employer if ever sue...
Randon B.
Balloon on Seller Finance Note
I am about to put a house up for sell and I would like to sell finance the note. I was told that if I was selling to an owner occupy then I could not add a balloon as part of the note. Though if I was selling to an in...
Account Closed
Cost Segregation Study
I got a call the other day from a cost segregation firm. He estimates that I can use bonus depreciation to get effectively $900k of depreciation in the first year. This is due to taking advantage of bonus depreciati...