Dan Fields
Do I need an accountant?
Hi, I'm new to real estate investment. I recently purchased a 2 unit home in southern Maine. I couldn't be more excited about the purchase. I moved in Jan 1st but I realisticaly won't be getting a tenant in the other ...
Alex Hamilton
Pending Foreclosure on a Sale Subject to my Owner Finance
Failed to collect Property Insurance and Property Tax on my promissory Note now buyer refusing to pay $15,000 delinquency on mortgage that is $709 per month @ 4% with $93,000 balance now pending foreclosure. Any sugg...
Westin Hudnall
Would You Rent To Them ? Need advice quick !
Rental amount $1175/month with $1000 depositClients Financials : Husband - $2500/month before taxWife - $355/month in child support. Stay at home mom (they have 3 kids. Age 2, 6, and 8)They own 2 vehicles (07 Chrysler...
Justin Ford
Lease wording for discount for on time payments
Can someone help me with some legal wording for our lease regarding discount for on time payments. We are charging no late fees, but if they are on time, giving a discount. We are upping the rent by $50 and then givin...
Nicole Heasley Beitenman
How to hack my way into 2nd house
Hello BP!
I own a home through an FHA loan. I rent out the spare bedrooms, which covers the mortgage, taxes, insurance, and repair reserve. It doesn't cash flow beyond that, but that was not my goal when I purchased ...
Michael L.
Unpaid Rent - Tenant Moved Out
Dear Experts,I had a tenant who was two months behind and under the threat of having an eviction on his record agreed to voluntarily move out and pay the owed amount at a specified later date. I drafted a document usi...
Rick Bassett
The Implications of Dodd/Frank Repeal
I don't care if you love or hate the current tenant at 1600 Pennsylvania Ave. This post isn't intended to be political.I am curious to get the opinions of other BPers on what the investing road ahead/climate looks li...
Brian Peterman
Will I incur a penalty or have a tax hit on a withdraw Roth IRA
Hey BP! Working on closing my first deal and I'm wondering if my thinking is correct. I am purchasing a 3 flat that I will be living in and this is my first home purchase. I have ~$20,000 total in my Roth IRA and I wo...
Jonathan Tavarez
Help with financial options to buy property
Hi all,I found a property that I really want to get (lets called H3) but I need some kind of strategy to get it and I can't think of the best way to do this. I want the house as an investment but I'm willing to do a ...
Allen McGlashing
Need house hacking advice
Hey guys,
Here’s my situation, I had bought a 3-family home last year, lived in one of the apartments for a year and now moved back in with my father to get that extra income from the 3rd unit which is basically hous...