Jim Peckey
Going through Refinance on our 1st BRRRR - closing costs review?
Howdy folks,Greetings. We're wrapping up our first multi-family BRRRR project and finalizing the cash-out refinance process now. We're expecting to close next Monday and just received the closing disclosure statemen...
Jason Cummins
Generally, what do sellers pay at closing?
On a general basis on the retail level, what does a seller pay for at closing? I've heard it's usually around 1 - 1.5%, but what exactly is the seller generally paying for at a closing?
Thanks!
Javier K Perea
Should new investors have a financial advisor?
Hello,As a soon to be first time landlord, I am curious as I look to build my rental portfolio, would it be helpful to have a finacial advisor on my team to help have a well thought out on paper overall goal. I feel a...
Jeff Morris
Setting up company/corporation
This is my first post on BP. Looking for best info on setting up company for investing business. 1. is there a one-stop source on BP that I am unware of, or other source I should look at?2. What type of corp is best, ...
Benjamin Swicegood
Renting my house out to buy another house.
Hi BP question... If I am currently renting out half of my downstairs in my home and thinking about renting the rest of house approx 1400 sq. feet would I be able to use that money to help finance another house. In ot...
Eric Veronica
Writing off business expenses as W-2 employee
Wondering if anyone has been as negatively impacted by the new tax laws as I have and looking for a solution. This question is directed towards other CPAs, loan officers or any other commission employees who are paid...
Mathieu Roegiers
Transferring property from one LLC to another // Commercial rates
Hi all,
I have an LLC in NY with one apartment. I have, with my brothers, created a new LLC and signed for a second apartment. We are trying to close since March, but due to covid 19, we are still waiting for the Ta...
James Walker
Looking for lender recommendation in Texas
I have a house under contract, renter ready to move in and my lender is getting squirrelly on me and asking me to make changes to my tax return that I’m not super comfortable with and they are charging $6k in originat...
James Terrell
Simple LLC question
Does your LLC have to be in the state you will be wholesaling in? I’m currently in California and would like to start out wholesaling on the east coast
Chris P.
Cash out refi or Sell while market is high?
Good morning BP. We're looking to expand and up against a decision to refi or sell. We have 3 SFRs that we are debating on doing a cash out refi or selling for a down payment on a larger MFR.If we refi we will still h...