Joshua Bailey
LLC or Umbrella Policy?
LLC or Umbrella for buying 1st fourplex? Is it worth it to form an LLC or is umbrella enough for my 1st purchase. If I should start out with an LLC I would like to do so before I apply for the mortgage. Are commercia...
Sean Haardt
Seller Financing negotiation tips
I’ve been BP Pro member for about 9 months and am about to make my first offer on a home converted to a 7-unit apartment. I have a seller offering to do seller financing. He says he’ll give me a good rate for 5 years ...
Kristi Miller
Invested in a dog of a property
Hello: We recently invested in a fourplex that is turning out not to be the best property - many lessons learned by this one!!. Anyway, unfortunately our cash flow is only about $50 per door. We have a conventio...
Jonathan C.
Turnkey company taking long to complete renovations.
I am in the process of purchasing my first turnkey rental property in St. Louis from a turnkey provider. The contract stated that all renovations would be completed and a renter would be in place by Feb 28, 2022. At t...
Fred Stevenson
to leverage or not to leverage
My home is paid off, and I'm taking 80% out of my house in a 30 year refinance loan. My plan was to purchase three - five SFR's for cash using 20% of my own cash and 80% from the refinance loan for each purchase. Tha...
Eric Sanne
Bank Statement Loan for Self-Employed
Hi everyone,My wife and I are self-employed and finding it difficult to qualify for traditional financing. Imposible actually. I stumbled up bank statement loans and just spoke with a loan officer for an hour asking a...
Brian Klingbail
Direct mail/buyer letters
Hello,I invest in a market that has become very stingy in the deal department. Over the last several months, the deals seem to have dried up all together. I've spent some time driving for dollars and have identified a...
Tas S.
paying down a loan quicker?
Hi everyone,I have 3 houses in Memphis and I'd like to bring down the payments on one of my houses quicker. Can I pay towards just principle as a separate payment or will it just count as an extra normal payment? I've...
Brian Coleman
What do you look for in a good lender?
Hey all,I'm beginning to get started here in Austin, Texas and have my plan as far as what I'd like to go after, short term and long term goals, and what to look for in an agent, but I had a question about lenders. Th...
Jonathan Warner
25% down smarter for a rental property?
I've been getting the advice that putting 20% down, when available, is a smarter choice than putting 25% down, all in the context of rental property purchases. The reasoning seems to be that a) 20% down keeps more cas...