Nick Apada
After Foreclosure Auction of First Loan-HOA asks for payment...
This is a FLORIDA related question. I usually stick to SFR's but now with the thinning inventory, I started getting into some condos. Recently I bought a unit on the county auction. It was the first note (no junior se...
Bob Jaeger
Options pursuing FHA note foreclosure
Looking for strategies and creativity ideas on how to pursue an opportunity I found in my area that at the right price could be a good addition to my BRRRRRRR portfolio. The facts and challenges are-1) The house is li...
Account Closed
Exclusive Option Assignment
I have lots of leads for wholesaling lease options.
What is the best way to structure this?
Should I use an exclusive option, or I have heard of non-exclusive options where the seller can continue ma...
Tim J
How to determine building value for depreciation
I'm in a bit of a quandary at the moment. I purchased a property in pretty bad shape for about $1 million last year and spent about $500,000 on what ended up being a MAJOR rehab project. The city assessed the value ...
Parker T.
Insure Rental at Replacement Cost
All,
I'm putting a bid on a foreclosure today at 30k. The insurance company quoted the replacement cost at 160k and with everything else factored in a quote of $94/m. This seems extremely high and doesn't fit...
Jeremy Paschedag
BRRRR Logic Verification
Can you tell me if I'm understanding BRRRR?I have a SFR that I have had for 4 years with a 15yr mortgage with a tenant that I bought for 100k. Some reno's have been done. Payoff is 60k. If I cashout refi for at 80%...
Justin Richardson
The ins and outs of bidding on a foreclosure at auction.
Hello All,I'm new to BP and wanted to introduce myself as well as hopefully get some advice since I am just in the beginning stages of pursuing REI.I work as an engineer and am currently enrolled in a MBA program at t...
Joanne Tsai
can no longer purchase umbrella insurance after 10 properties?
Hello BP fellow,
Recently my husband and I were told by our insurance agent that since we just reached our 10 properties, we will no longer be eligible for purchasing a conventional umbrella insurance shall we decide...
Drew Castleberry
Need help understanding a self-directed IRA
So I've scoured BP and the web on self-directed IRAs and have gotten a bunch of useful information. Unfortunately the information I was able to find was mostly on setting one up and general guidelines on how to operat...
Jason Bilbrey
Live in manager/maintenance threatening lien to prevent sale
Looking for some advice. I’m about two weeks away from closing on a 6-Plex and the seller just notified me that his live in manager/maintenance guy threatened to put a construction lien on the property. They have no w...