Clarence Watkins
As a REI what do I look for in a financial advisor?
I am new to BiggerPockets. I’ve been doing property management, building fixing and holding for near 40 years - the last 20 years independently. My wife and I are retirement age now. She wants the security now of a fi...
Account Closed
Seller wants 75k through escrow and 75k cash to her
So I have a great off-market deal on the line, but have run into a head-scratcher.The seller owes 75k on the property to a private lender. We've agreed on a price of 150k. However, she's on social security and can't h...
Christen G.
Accounting for multiple properties
I plan on putting a call into my tax preparer as well about this, but figured I'd ask you all to start: My partner and I have 2 multi-families: a duplex and a triplex. We're still getting our feet under us and system...
Victor So
House Hacking - treat your roommate like a tenant?
Hello BP!
My fiancée and I just closed on a 2 bed/ 1.5 bath condo on the north side of Chicago, right next to Loyola University, and it is currently in process of being rehabbed. It should be fully renovated in a co...
Scott George
$3.5 trillion reconciliation package impact on IRAs
If the proposed legislation is enacted, you will no longer be able to purchase any of the above investment types in your IRA. Further, you will be required to dispose of any such investments that you currently hold in...
Jack B.
Possible to cash out refi and purchase with just rental income?
Is it possible to cash out refinance rentals and purchase new rentals with the money using just the rental income from your tax returns to qualify? I know a lot of banks want W2 income but I was wondering if there is ...
Dusty Ackerman
Temp working tenants
Hello BP,Just wanted to run this by a few of you landlords who have had some experience in the game.What are you thoughts on Temp workers or Temp to hire working tenants? When screening a tenant and you see they are w...
Brenda Whittaker
NMLS? Potential lender credentials?
I have read that all lenders must be registered with NMLS, yet I cant find any of the lenders I have begun to work with in NMLS. I cant find anything in there. What does this mean? That they;re not real? How do I ...
Jordan Lassiter
401K TO SELF DIRECTED IRA, structure?????? tax??????
So, me and my business partner have built a decent portfolio and are now getting to the point where we need to raise capital to keep the ball moving at a good pace. I have a direct family member who wants to invest w...
Carol Lam
Foreclosure property - distribution of proceeds
Hi,I found a foreclosure property that I am interested in. Bank is foreclosing on the 1st loan. If I won the bid, does it mean I won't be responsible for 2nd loans? How about if there is an abstract judgment on the...