Bao Nguyen
high end rental investors: does the 3x income/rent apply?
It's part of my rental policy: household income must be at least 3 times the rental rate. But most of my homes are renting around $1k/month or less.Should this rule apply to high end homes that rent for $3k/month or ...
Jon Bonczyk
Seller Filing Bankruptcy (needs to sell)
I am working with a seller right now, He bought the house a year ago for $127,000 for 3% down. He is selling because he is moving back in with his wife. He owes $119,000 on the house and My purchase price maximum is $...
Bryan Strain
Selling the home you live in for profit
So my girlfriend and I bought a house back in 2020 right when the Covid shut downs began. We were able to secure an FHA loan for 162,000. The house was on the market for 149,900, after negotiations we were able to pur...
Michelle Sharko
Home equity loan
I’m looking to get a HELOC on my second home which I’ve only used for a few rentals, it’s basically our vacation home.
It’s in a trust there’s no mortgage value $650-$700 wanted to take out $150,000 for renovation a...
Jacob Hollen
Selling owner occupant Fannie Mae property before 1 year
Hi i had bought a Fannie Mae homepath (owner occ.) property with the intention of BRRRR’ing it and ended up getting a lucrative job offer on the other side of the country and it would be more convenient to just sell i...
Devin Stratton
Found out my tenant want to end lease from prospective landlord
Hello BP community, I am a new landlord seeking advice on a breach of lease situation on my first rental. Back story: I am from Houston, Texas and my tenants just moved from Denham Springs, LA for new employment . The...
Emory Clayton
Require occupants 18+ years or older to fill out application?
I'm trying to understand the reasons....pros/cons.... to requiring occupants 19+ years or older to fill out application? In my state you have to be 19+ years of age or older to enter into a legally binding contract. I...
Account Closed
L.A. Wildfires and Their Tax Implications for Affected Residents
Los Angeles County continues to grapple with devastating wildfires that have claimed five lives, destroyed over 2,000 structures and forced the evacuation of at least 130,000 residents. As firefighters persist in batt...
Hen Ley
Send letter to out of st. owner who is in commercial real estate?
I live in a resort town with many out of state owners. Occasionally I drive by a property and, because it looks like it has some deferred maintenance, I'll consider selling the owner a letter expressing interest to p...
Thomas Butler
How to use Investor Money
Hi All,I have been investing in real estate for a few years now and have a sound buy and hold strategy that produces solid returns. Like everyone else here, building my buy and hold portfolio has been slow moving giv...