Shannon Elam
Lease Option Tenant
I have an interested lessee to do a lease with option to buy agreement. We ran a background check with a tenant screening website on both the husband and wife. The both have credit scores between 520 and 550. Their in...
Andrew Bjorklund
Inherited tenant that needs to go
My wife and I are buying our first multi-family home and expect to close soon (yay!). We will be house-hacking a tri-plex. One unit is empty that we will live in and the other two units have long time tenants. Both te...
Kyler J Sloan
How to Claim Passive Losses without getting Audited
I have poured my cash into STR construction projects, and so actually have a loss which nearly equals my income.Using the "STR Loophole", this should enable me to deduct these expenses from my W2 income. However, this...
Jeff Weissman
LLC & Meeting Minutes
OK, I admit it, I've been lax & lazy...but I want to clean up & go straight (sort of): I set up an LLC 2 years ago. The LLC holds title to 3-fourplexes. My wife & I are the only people named as members. We...
Jason McDougall
Seller has IRS liens, need advice on how to get partial release
Happy Monday BP!I've been working with a seller that is trying to sell 3 houses that are part of his father's estate. The IRS has a lien against his father's estate in the amount of $330k, and I have a contract with t...
Chris Seveney
Should a Performing CFD be Priced The Same as A Mortgage & Note
Recently I have been reviewing pricing of assets and I see many sellers pricing a CFD the same as a traditional mortgage and note. Am I crazy as I would never pay the same for a performing CFD as a performing note. As...
Ervin Taylor
Can I terminate a lease, If I do not accept security deposit
I found a tenant for my single family home and everything was going smoothly. Once the lease was signed, there were a lot of problems that arose. I did not accept security deposit or first months rent and told the te...
Mina G.
Tenant paying rent late almost every month now no payment
I have a tenant who was paying on time. Now the tenant paid late the last 5 out of 7 month. I charge about 10% late fee after the 5th of the month. and a flat rate fee each day after.
This month I still haven...
Sid Newstrom
Can a person buy property with NO agents
Well... As we speak my wife is closing on our first rental !! But a new prospect has come into light. I just talked to an investor who has more than 20 properties and wants to liquidate. NO seller agents.... Someho...
Ryan Copeland
Offer Letter | For Sale by Owner
Hello BP,I've been talking with an owner for an off-market deal and they asked me to send an offer letter. I was wondering does anyone have some type of template to use or can provide some type of example. Any type ...