Belinda Lopez
End Buyer can't perform and now wants their 'non-refundable' earnest money back
Wow - I was just informed that one of my end buyers was unable to perform on a Wholesale transaction and since the contract is now out of date, the seller is moving on to another buyer. I even had in my Assignment...
Kevin Kaczmarek
Landlording Best Practices
I would love to hear from the BP community what they believe are best practices of being a landlord? We are in the process of updating our documentation and procedures, and I want to make sure we are not missing anyth...
Garfield M.
Chicago zoning administrative adjustment
Hello, looking for someone with experience in zoning "administrative adjustment" in Chicago. I want to change RT-4 zoned 3 flat to 4 legal units. RT-4 zoning - 1000 sq ft of lot size per unit. Lot is 3969 sq ft so its...
Daniel Rider
How to get rid of a tenant in jail
I’m closing on a house this Friday. Existing tenant is month to month. I found out today he started a bar fight this weekend causing extensive damage to a local establishment. After doing some research, I found he had...
Martin Saenz
Increased divide between entry level note players and mid-level?
Yesterday, I started my day by speaking with a very successful
mid-level note player. Our topic of discussion focused on current deals
in the marketplace. Later in my day I spoke to a few borrowers regarding
loa...
Sean Peters
Tenant Ignoring Late Fee Notices & Refusing to Pay
Hello all,I am currently in a situation where one of our retail property tenants is refusing to acknowledge and pay late fees as stated in the lease. This property is a family property and until recently it was manage...
Michael Willis
Funding RE investments with home equity
Long time lurker here who doesn't post often. I live in the Bay Area with a lot of equity tied up in our home. As many already know, Bay Area prices are crazy high.
I am wondering if it is unwise to fund a RE invest...
Chintan Parikh
Looking for my First Rental Property
Hi,
My name is Chintan and I am a new member of the BP community. I have always been really interested in learning more about the rental property business and have been reading a lot online. I stumbled upon some re...
David Siegel
In escrow with foundation conundrum
We are in escrow and our inspection contingency ends on Sunday, Feb 6. We had our home inspection on Thursday, Feb 3 and the inspector included in his immediate recommended improvements:"Substantial foundation crackin...
Karissa Sampson
Need to lock my rate ASAP-Buy points or no?
I understand the fact that my money is worth more now than in the future and will be rehabbing the property (BRRRR). I plan to cash-out-refi the property in 12 months after the rehab. Would like to get my my money bac...