Kenneth Bentley
1st Lien HELOC
Has anyone used a HELOC on a rental property? I have equity in one of my houses but rent won't cover the mortgage if I cash out refinance. Looking for another way to pull out some cash. Also, I thought if I did a 1st ...
Travis Elliott
I NEED HELP WITH SELLING MY HOUSE ON CONTRACT
Hi
I found a couple that want to buy my house on a contract or lease option. I have a conventional loan on the property but I havent had time to see if there is a due on sale clause or not.
The buyers are suggest...
Mike Gentry
Owner financing with escrow - Late fees and accounting
If selling a home using owner financing, how would you account for the following example? This is in Florida by the wayMortgage payment - $1000. Loan - $800Escrow - $200Late fee - $80Questions A. Lets say that the b...
Mike Cachat
Sharing cash flow between two properties
BP Community - Does anyone have a list of tax specifics/conditions that apply to sharing cash flow between properties to pay expenses?For example, Property A has cash flow that exceeds depreciation and Property B is a...
Dan Gongora
Purchasing a foreclosed property before auciton
Good afternoon everyone,My friend recently told me that his brother's property is being foreclosed and will go to auction mid next month. I told him I'd see what I could do and this is what I came up with. My plan is ...
Brandon S.
Qualifiying for a 20-unit Apartment
So I'm looking to buy a 12-20 unit apartment complex. I have about $400k cash (for down payment/closing costs), completely $0 debt and a credit score of 803. I also have a salary (non-real estate) at my regular job ...
Riley Blake
Closing Costs - Wrapped into loan?
Hi, Do people usually pay closing costs out of pocket or is it typically wrapped into the loan? I'm looking to obtain an FHA loan for my first owner-occupied duplex. Also, I've heard FHA requires PMI. Is .5%-1% of the...
Omi C.
Questions about holding accounts for insurance + taxes
Good day all!I recently bought a 4-plex as my first investment property and am having some issues with the lender.The first issue was that the lender surprised me on the HUD by collecting 3 months advance taxes+insura...
Rex Celle
Do you track your net worth?
How many of you track your net worth as RE investors. If so, please share with the BP community your approach and what you include under assets and liabilities.
Donnersson Penna
How to get a condominium complex VA Approved
Hello everybody. Does anybody know what is the process and what are the charges to get a condo complex VA Approved. Thank you so much!