All Forum Posts by: Alex Craig

Have all your financials tight before approaching a HML is good advice along with a plan A for your deal and a contingency plan B that will take the HML out if plan A doesn't work.

It is all relevant to the price you pay and where you want your all in cost to be. The better the deal, likely the more issues with the house. It is probably not as bad as you think.  If you bring a mold company out, they will try to convince you that unless you use their services, the house should be condemned. Most of the time, it is no where close to what they say. I am surprised these guys are not all driving Lamborghini's based on what they charge. Read up on mold and see if you can do it yourself. 

In today's market where rents are rising, if you offered a $25 below market price and the home was nice, your home would lease up quickly. 

Ask other wholesellers and Turnkey providers in your market. You can also look to see if any title companies sponsors' your local REIA as they would likely be working with investors and wholesellers.

Since your question was answered, I will tackle the deprecation recapture.  Basically whatever deprecation you took will be recaptured as income.  For example, let's say your booked cost was $200,000, you took $100,000 in deprecation and selling at $250,000, you taxable gain would be $150,000.

@Paul Sandhu I just spit out my drink. That was funny.

Yes, 38127 is class C

PM me and I will send you a copy of our lease extension letter. 

You could simply do a rental increase letter both signatures on it, the new amount and stating it is a extension of the original lease along with putting an end date, which is typically 12 months. 

@Account Closed I do not disagree what it takes to be successful and hard decisions sometimes may have to be made, but when we make those decisions, we do it with empathy and to what we can before eviction days. Such things as recommend charities that may help, explore if they can get on section 8, give them job placement company #'s, etc. You may see 3 ghost on Christmas Eve.