Bob Couture
Condo Fee Foreclosure
Situation: Condo is paid off, but there is $7K in condo association fees outstanding. Condo association is trying to foreclose. Condo needs about $10K of refreshing/updates. ARV estimated at $105K. Monthly condo fees ...
Kris Mead
Investor loan conventional financing rates post 4/1
Has anyone gone for financing post 4/1? I just went for a pre-qual letter from one of my lenders and he said he was getting quotes at 6.5% for a 30 year conventional earlier in the day for another client and he could...
Jordan Solomon
Factoring in Earnest Money Deposits?
One thing I'm confused about is earnest money deposits and how to account for them when coming up with my offer amount. Let's say, just for an example, that an earnest money deposit of $5000 is required (we're obvio...
Barry Schwartz
AUCTION.COM Judgments and obtaining a clear title Suffolk County
WHAT HAPPENS TO THE JUDGMENTS? iF YOU ARE THE LUCKY BIDDER AND WIN THE AUCTION AND THERE ARE SEVERAL judgments ON THE PROPERTY WHAT HAPPENS NEXT? One of the judgments is from the Suffolk county department of ...
Jeremy Michiels
All bills paid - include in rent or charge separately
New to investing and am assessing a 4-plex. It currently cash flows well, but includes all utilities in the existing leases. As I seek more revenue opportunities, I'm curious if it is better to leave as is or migrate ...
Patrick Gilbert
Real Estate Depreciation
So I understand the concept of depreciation - appreciating asset that degrades (“depreciates”) over 27.5 years so you get to take a loss on taxes. My question is: how is that depreciation number determined, specifical...
Nick R.
Escrow Shortage
Hi all,I just received a letter from the lender on my primary home stating that I have an escrow shortage and that my new monthly payment is going from $1,138/month to $1,306/month (a 15% increase). I've never had an...
Jonathan Studdard
Do hard money or private lenders give pre-approval letters?
My concern lies in being able to make offers fast. So my broad goal is to find and rehab properties to rent out, then refinance to get my cash and new equity out after 6 months. I want to grow a rental portfolio with ...
Account Closed
Reasonable Earnest $ Amount
Hello,I am about to place an offer on a Short Sale that needs a lot of work (butterflies in my stomach) I obtained bids to get the work done and my realtor will submit them with the offer. There have been several low ...
Douglas B.
Can someone explain the benefits of rental income tax savings?
I've heard it said that business income is handled differently than traditional earned employee income. Can someone explain this in an example for me? For example, how is $10k of earned employee income taxed dif...