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Is Homestead Exemption a real consideration during auctions?
I was reading an older book (2000) by Dallow where he states that in foreclosure auctions in NY, the buyer has to pay the homeowner $10,000. But I can't find anything online to confirm that. If anything, it sounds l...
Ferria Cunningham
3 Unit Apartment for rehab
Hello! I am looking for assistance on what are my options for my 3 unit house passed down to me my dad from my deceased mother. A seasoned real estate investor and mentor of mine suggests that it will take $140-150 to...
Dave Grosse
FHA & BOA - what could be worse?
So I've been working on this deal for several months. The homeowners had been granted approval to participate in the HUD pre-foreclosure program back in NOv 2009.
The file switched negotiators once or twice and th...
Scott R.
Standard deduction for rental property income on 1041 Estate form
You would think this would be obvious, but on an estate filing (1041) the only Standard Deduction mentioned is for a bankruptcy estate at $12.2K. I don't want to go through all the bullsh!t of itemizing deductions whe...
Jephney Herring
First Foreclosure Property Needing some advice
Hey BP family I have been reading and listening to podcast for sometime now and have run into a pre-foreclosure property but I want to make sure I'm going about this the right way. During my search on court docs it se...
Carol Burns
Looking to buy property/owners in Chapter 13
Property used to be up for foreclosure, now owner has declared bankruptcy. County said that the trustee dropped the foreclosure. Property owner contacted me offering to sell for a pretty steep price. My question i...
Dennis Collier
Attention Movie Gallery Landlords
Any Movie Gallery landlords out there? I'd like to compare notes on the bankruptcy.
Dennis
Matthew Shay
Preforeclosure in NYC is under the Trustee's name
I am looking at a SFH that has lis pendens but the owner filed for bankruptcy and is doing jail time. The property in Manhattan was transferred from the owner to the irrevocable trust on behalf of the owner. There is ...
Nick Doria
Chicago lease to own a 4 unit building
A little background about me to better help everybody understand what I'm working with. So in 2011 I got out of the navy and went to a trade school to learn how to work on cars since I wanted to open up my own shop in...
Amanda G.
What are your renter screening criteria?
Everyone says how important screening tenants is. Experts, what grade of property do you rent, and what are your tenant standards?Income 3x rent?A certain credit score?Evictions/evictions filed?Criminal history?Bankru...