Danny Duran
Screening a tenant undergoing a short sale
BP'ers--a prospective tenant who is undergoing a short sale on their home wishes to apply to rent one of my units. As their credit has been damaged by the short sale, they have offered what they claim is a qualified c...
Andrew Bolton
Commercial Loan for a 5-unit building in NJ
Hi there, I currently own two single family rental properties and was recently approached about purchasing a 5-unit building in the same town. The listing notes state that only commercial loans can be used. I have z...
Mark Kindy
Plan of action regarding lease-option sandwich
I've put together a sort of list of how I think I should approach lease-option sandwiching. I'm starting scouting tomorrow, and just wanted some feedback on this process:
1) Look for houses for sale in the area
2) De...
Josh Thomas
NPN 1st with unpaid property taxes, how to pay them off
I'm looking at two non-performing 1st notes with substantial unpaid property taxes that will be sold at tax lien sales in April. What is the procedure to pay the taxes as a new loan to the borrower? Where can I read u...
Marc M.
Detroit Water Bills: Landlord-Tenant vs. Direct Payment By Tenant
Hey Folks,I'm looking for some veteran Detroit Landlords to chime in on this one: Which route is better to take with the Detroit Water Department on a rental: 1) Affidavit of Lessee Responsibility For Water and Sewera...
Scott Hollister
HELP: Need to teach owner about benefits of seller financing 1031
Hello,Im working on an off market apartment complex with an owner. I know he wants passive income and I wanted to provide that value for him. So far I have these Benefits of Seller Financing: Higher Price: I can pay m...
Andrew Liu
Buying Property From a Friend That's Cash Flowing Already?
Hello, I'm new to real estate and this would be my first property. I'm hoping to see if this is a good deal and if someone can help guide me.My friend already has a property that's cash flowing in Kansas City, MO. I w...
Phil Shelton
When should I start the eviction process for a tenant with consistent late payments?
I have a tenant who pays half of the rent at the beginning of the month and then the other half at the end of the month, without a valid excuse or reason. I have allowed them to do this for the past six months, and I ...
Erin Murphy
DSCR for first time homebuyer?
I’ve heard a few lenders say they can’t help a first time homebuyer with DSCR. I’m a first time homebuyer looking to purchase a single family rental property in NJ. I’m self-employed, so most likely won’t be approved ...
Kyle Koppenheffer
Are these closing costs normal?
Hey BP!New investor here and I'm currently looking to buy my first rental property in the Philadelphia area. I've been shopping around for properties and I've been working with a broker to determine my financial opti...