Thomas Handy
Mom wants me to take over her loan, how can this be done?
A little background on the story. I have been paying my mom's mortgage for the past decade or so. I pay the bank directly. She is retired and called me last night and wanted me to pay off her 15 year loan and take t...
Ryan Dossey
Do you ever stop setting aside 35%?
I know the general rule of thumb is that you put aside 35% of your rental income for repairs/maintenance. Is there ever a point where you don't need to set it aside anymore? Common sense would tell me no because thing...
Robert Willard
Agent Wanted Carolinas or Tennessee
I am looking for a vacation home in the south. I want to be on the water but not the ocean. Looking for a recreation lake for boating. Think Dale Hollow but I do not want to pay Dale Hollow prices. Looking for an ...
James Woods
My house dilemma seeking guidance if possible
so I bought a house with fha about three years ago and lived in it for a year. I moved out of the property and rented it out and it is still rented out currently with positive cash flow( don’t want sell). The issue I ...
Lori Lloyd
Protection from the Financing Owners bad decisions/situations
With the market shift on the horizon I expect we will begin to see more sellers show interest in Owner Financing as an option. I've found that nearly all attorneys in my area warn strongly against it (most will not ev...
Daniel Hoffman
When to cash out?
HiI own 1 rental. It is cash positive, though only about $200/month. A realtor recently gave me a rough appraisal about $120k more than I paid for it. My wife and I both have a decent amount of student loans left to p...
Jonathan Orr
How to do a construction draw
Hello all. I am in need of some help. I have a few properties that I am rehabbing and one property that I would like to build on.I have been talking with banks about construction loans with fund controls. However I...
Michael Marcoux
Can I qualify for a commercial loan?
So, here's the (literal and figurative) deal:2 of my acquaintances have a pocket deal for me. It's a 4-plex in Baltimore with $3,430 gross rent and a NOI of $1,778. Asking price is $195,000. If I could find a 20-year ...
Charles Fletcher
A duplex with window units.
I'm looking at buying and holding a duplex, it should cashflow as it is so my instinct is to leave it alone apart from some flooring work that needs to be done. But there is no Central Heat or A/C, only old window uni...
Gino Tomba
Provide washer/dryer for tenant?
Hey BP,I am putting up a unit of a Duplex on the market soon in Old Brooklyn/Brooklyn. What's the expectation for tenants in this area? I have a property manager saying they usually provide their own. Is this true?I l...