Jack Forester
Why I'll never offer a lease with option to buy again.
As a homeowner trying to sell his house (before I got into rentals) in 2011, I agreed to a lease purchase option. We agreed that $500 of the rent would go into an account to be used or a down payment, if they bought t...
Micah Starbuck
Looking to purchase a new house and rent my current house - looking for guidance
Hey all, looking for a little guidance from the more knowledgable folks around here and would appreciate your input.The broad picture is that I'm looking to move out of my current home that needs work and keep it as a...
Sewi Wawa
Bank wants to know why I want to cash out refinance
Hi all! I am trying to do a cash-out refinance on my house that is completely paid off. The loan is in process, but in the mean time, my bank sent me an email asking me what I am planning to do with the money. I don't...
Maura Paler
Converting NYC Apartment Building to Condos - can it be done?
We live in a 4 unit building that is currently apartments in NYC. The owner would like to convert to condo, but apparently this is a very tricky and expensive thing to do in NYC with tenants in place. If he is able to...
Oswaldo Rodriguez
Bankruptcy
Hi, my dad filed a chapter 7 bankruptcy in 2006. He was given I believe 7 years until he could establish his credit again. Since then, he has bought everything cash. Since we both want to invest in real estate, he wan...
Georges A.
Entertainment / Meal Receipts
This is a very basic question so I apologize in advance:I racked up a LOT of meal / entertainment receipts for being an agent / Property manager. Am I trying to use them to evade taxes and deduct my day to day meal e...
Noel Peralta
Can I evict and purchasing a new property simultaneously?
Hello Friends,
I'm currently in the processes of evicting a tenant for non-payment of last months rent. I'm concerned that this might slow my investment goals down. I can show my loan officer that I have a lease for...
Brian Kempler
What percent of rent is a good rent credit?
Say market rents are $1,000 in the area. I'm thinking of offering about 20% as a rent credit. $900 pays for the lease, and a separate option contract gets a non-refundable $200 paid into it. Is that a fair split or do...
Jorge Lopez
New refinance that is coming to home owners
FROM MONEY It's About to Get Easier for Over a Million Homeowners to Refinance Their MortgagesTwo new mortgage refinance programs launching this summer should make it a little easier for lower-income borrowers to save...
David Johnson
Airbnb w/o County Licenses
Hey Yall,In the process of launching an Airbnb at the new property I just purchased. The property is located in Fort Lauderdale (Broward county) and is a detached 1/1 on the same plot of land that my primary residence...