Account Closed
IRA for first investment?
I just recently changed jobs. I make about $60,000 a year at my job, and have solid credit. I rolled my 401k into an IRA with my credit union. Theres about $6,000 there. My intentions have been to use that money for m...
Maria Ferre
Pile of possible asbestos in the attic
Hi, I had an inspection on a home I'm interested in buying and the inspector spotted a pile of Vermiculite insulation, which could obtain asbestos (it looks like a big pile of kitty litter in one corner of the attic)....
Colby Zeller
Loans and Loan requirement questions
Hey BP community, I plan on buying my first rental after I graduate school, and have some questions about the loan I want to receive. I plan on owner occupying a duplex or tri-plex, so I can qualify for a FHA loan the...
Sarah Lyon
Getting a 2nd mortgage for a third property
Hello BP community,I am a Raleigh, NC resident currently working towards purchasing my first duplex and though I am still far from making my third investment, I am curious - would I be able to get a traditional bank l...
Raj Kumar
Joint Venture Structure
Hello All, I have a question on joint venture with my contractor. The contractor who I have worked with my previous projects has come up to me with a deal. The deal is with a commercial building which ha...
Bobby Holley
HELOC
I was recently approved for a $50,000 HELOC at an extraordinarily high 8% for 480 months. I'm paying off a current $27,000 HELOC at 4.75%. Is it possible that I can agree to this new HELOC and turn around and get it...
Shalom Benton
How do your tenants pay rent??
It’s 2021 so I know someone has the best way for tenants to pay rent. Ideally, I’d like mine to pay electronically! But what is the best way? I want the money to drop into an account that is associated with my rental ...
Michael Meates
Taxes for investing out of state
Hello everyone!!We live in NYC and interested in investing in the Cleveland market but wanted to ask advice on tax implications?? Do we pay an out of state tax on top of standard state taxes due to living in for examp...
Daniel Alexander
NEED HELP WITH HELOC OPTIONS ON WHICH TO CHOOSE
Should I do a HELOC that has a fixed low rate (5.875%) that doesnt have an option for interest only payments, or a Variable rate HELOC (prime 8%) that has an interest only payment option...i would like to use the fund...
Jerri Myers
New to Investing, Having Trouble With a Refinance
We purchased a house to fix and flip in Texas. We used a hard money lender and were not able to sell within our allotted time frame. So we decided to refinance and rent out the property. It is currently rented a...