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Hey everyone! I recently bought a twin-home that I am renting out. (The details are below) I will be in a training status for the next 1.5-2 years so I will have no housing payment as dorms are provided. I was wonderi...
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Hey guys, so I am an active investor in Florida. I have a few questions regarding mortgage terms. My lender always MUST have 25% down for a duplex. 30% down for a tri or more. I feel like this is really slowing me dow...
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Hello all, I'll get right to the point with my questions:
1. When investors purchase a NNN lease and the loan has a large balloon payment in 10-20 years, where do people come up with such a large payment to payoff th...
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Is it true that 6 months of mortgage payments is needed as an emergency fund before the closing of your loan on a multi-family property? If so, is there any way around this requirement? Is this requirement for every l...
About to embark on my first REI. Do you guys recommend I open separate bank accounts for each property? I'm planning to buy two in the next 6-9 months. Also, how do you handle rent payments. I've read a lot of blogs a...
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There are multiple homes in a D1 college town that are 4/2, $127,000 purchase. I've looked at comparable rents in the area for college students and they sit between $365-425 per room rented. To put 20% down I would ne...
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I recently locked up my first subject - to deal which I wholesaled to another buyer. Really excited as creative situations is where I'm looking to build my credentials and skills.Property Value: $220,000 - $230,000Loa...
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Hello BP community!I recently purchased my first home about 8 months ago and I'm looking to buy another in the area to rent out. I had a conversation with a lender this morning and he mentioned that the underwriter fo...
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I have a situation where a long-term tenant paid all but $275 in the rent (total rent is $1775). My lease states he will be charged $25 each day not paid but does not specify anything about partial payments. I did l...
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For those landlords and investors who have to send 1099s, they do not need to send them to corporations and non-profits. What records do we need to keep to prove the payee is a corporation or non-profit? Do we still n...