Account Closed
gain/loss on sale of rental property
In 2007 I bought a condo for $190k. In 2013 I moved and converted it to a rental as I was too far underwater to sell. The market value at that time was 70k (basis for depreciation). I've taken about $8,000 in depre...
Joseph Scorese
How to Owner Finance a Home – 8 Steps to Think About
How to Owner Finance a Home – 8 Steps to Think About1.Get an appraisal or broker’s price opinion from a Realtor (BPO) to determine the price of the home. Both the buyer and the seller can hire their own appraiser or R...
Eugene Naroditskiy
Newbie from Northwest Suburbs of Chicago
Hello BP! I'm Eugene, from the Northwest Burbs of Chicago, and have dabbled in Real Estate for the last few years. Through recent life circumstances and having more time on my hands, I've decided to jump in with both ...
Eric Moore
Deal or No Deal?
I came across an owner who recently evicted a tenant. He informed me that him and his wife are getting a divorce and his wife would like to sell her 8 plea and 3 plex. He showed me the properties and they are in a B...
Joe S.
How to get Lender to halt foreclosure
I had a seller in foreclosure reach out to me this past week. The property that they are needing to sell is going to be foreclosed on this Tuesday. Due to the title company needing more documentation from the courthou...
Tuna Sakallioglu
Am I getting a good loan?
Hey everyone! I'm just getting started in my real estate investment journey and looking to buy a property in Lehigh Valley area in the upcoming months. I already got pre-approved from couple lenders and was wondering ...
Chad Kastel
Question for a NY Title Attorney/Agent
Hello BP,I purchased a property in upstate New York. After we closed we got a bill from the water company that should've been paid by the previous owner or at closing. When I approached my attorneys and asked if the...
Leon Lee
Cash-out refi on several SFH properties, does it worth it?
Hi, Fellow investorsSome of my SFHs have accumulated some equity over years. I asked about cash-out refi from a loan broker that I have been working with for years and was given the following terms (see attached scree...
Ronald Trepton
Need help understanding ACV Landlord insurance
Hello BP Community,
I have two rental properties that my insurace provider Allstate will only do ACV policies on. I am told this is because they were built prior to 1941. Replacement policies are easy enough to under...
Stephen Brown
Found a Pre-Foreclosure/Probate Deal - not Sure What's Next?
Hello Biggerpockets. I need some help with a situation I've ran into. I've found a home here in Toledo, Ohio where the owner died and he did not leave a will, and the property has been sitting vacant for two years. I ...