Jehanzeb Beg
Selling after owning multi family for 1.5 years
Hello,I am located in Chicago, IL looking to sell my 2-flat after owning for a 1.5 years. What type of tax I will have to pay on the property? I owned-occupied one unit and rented the other
Edward Norman
CASH vs HELOC for down payment
So I'm getting ready to close on a property in a couple weeks and will need 40k to close. I have that in my bank but if I use it for the down payment I'll have little to no "cash" reserves. I have a 70k HELOC which i ...
Jackie Mesa
Trouble Getting a HELOC on my house
Hello Everyone,I have a home free in clear and i was recently trying to get a HELOC. The bank denied me because of Debt to income Ratio. My house is worth way over 400K, what would be the best way to approach this? Th...
Shane Forrest
Property Valuation
I found home over the weekend that the family is trying to sell for their mother. They have an asking price in mind, but how do I determine what I need to buy the house for to flip it? I'm working on getting comps fo...
Account Closed
buyer doesn't want to pay escrow for taxes and Insurance
I have a buyer that has an escrow account set up with Evergreen note servicing. It has been a real pain getting the account set up. Now the buyers are trying to just send in their P&I payment. I Have an underlinin...
Stephen Groves
Refinancing Advice Needed! Refinancing a contract for deed.
Looking for some advice on a refi. Here is the situation. Currently in a 15 year contract for deed. Original loan was 90k @ 3.5%, still owe 65k. Approximately 10 years left on the loan and my monthly payment is $6...
John Laney
Will the Aug 17th NAR settlement cause some buyers agents to charge an hourly rate?
For those that don't know the Aug 17th NAR settlement will now REQUIRE realtors sign a contract with their clients PRIOR to showing their first house. While not explicit, the contract is written in such a way to enco...
John Acker
Quitclaim or warranty deed before small claim filing
Hi everyone,One of my tenants who moved out a few months ago is threatening to sue in small claims court. I really don't think he has a case, but I'd rather avoid the headaches and legal fees. Is it legal to simply tr...
George Maka
Help me pitch a master lease option to seller
I recently went to a creative financing meeting and got very inspired with what we spoke about. One of the topics covered was master lease options, or sandwich lease, and as he was doing a demo on how to pitch it. ...
Jeff Marciniak
Need Recommendation on Raising Rent
BP Members,
I have a property under contract and will be closing on it November 2nd. The current tenant historically fell behind on their rent, and would catch up every year with their tax returns. The current owner...