Darvin Ezell
Question About The Assignment of Contract Process
1.Once you get a property under contract and you locate a buyer, how do you assign the contract over to them? Do you have him sign the original contract that you had with the seller, or create a whole new contract wit...
Erik D.
Providing Earnest Money Deposit for a Syndication
Hi all,I have recently been asked to provide the earnest money deposit for an apartment syndication, 120 unit apartment complex, in exchange for GP share of 3.6%. EMD would be $150k.So far everything has been verbal o...
Nate Miersma
Michigan Wholesaling
Michigan Investors: Can anyone tell me if there are laws, statutes, or other forms of regulation that prohibit activities related to wholesaling in Michigan?
For example:
Are contracts legally assignabl...
Roy Lhanie
Paying Contractors
Do you guys 1099 your workers? I have been paying cash to my workers and im startign to get worried come tax time.. anyone else have some advice regarding this? I track expenses in an excel sheet but im not sure if t...
Susan M.
evictions and security deposits
Hello,I had to evict a tenant because of excessive noise (all the neighbors complained), having a cat and a dog in the unit which was not allowed under the terms of the lease, and for allowing her friend and her frien...
Brandon Turner
Lease Options - Who Pays For Big Repairs?
Hey Fellas and Ladies,
I'm working on an article about lease options and I'm not the pro at these, so I'm wondering:
If you do a lease option on a property, and the furnace goes out, there is...
Matthew Newman
Is it true that you need to have a real estate license in California to fill out a purchase agreement?
I just got off of the phone with an escrow agent who said that I am not allowed to fill out a CRA Purchase agreement without a license. They said that they would be able to complete a concurrent close however I would...
Christopher Freeman
What Happens to Cost Basis if you Inherit a Seller Financed Note?
I'm wondering what the tax implications are for the heirs of a seller who dies while carrying the note on a seller financed deal.For example, suppose a seller has a fully depreciated asset with a $50k cost basis from ...
Michael Morrongiello
Going to imminent TRUSTEE SALE (CA)
Situation: Owner Occupied SFH - Home is in FORECLOSURE - NOD filed months ago, NTS -Notice of Trustee sale filed a few months ago as well.; The property is scheduled to go to sale in a few days (thus its within 5 days...
Ian Hutton
Lansing Michigan Property Manager in need
Hey everyone! My dad and I are at the final stages of purchasing our first rental and are in need of a Property Manager. If anyone has any recommendations/ someone that is available, Let me know! Thank you in advance ...