All Forum Posts by: Al Wilson
Al Wilson has started 1 posts and replied 1062 times.
Post: Long term purchase-banks=????
Al WilsonPosted
- Investor
- Daphne, AL
- Posts 1,121
- Votes 242
Lenders we have worked with look for a 25% down payment, an adequate reserve, and a personal guarantee supported by sufficient personal income and assets. Good luck.
Post: Is a LLC really worth the money?
Al WilsonPosted
- Investor
- Daphne, AL
- Posts 1,121
- Votes 242
Absolutely yes. Good luck.
Post: Interest rates
Al WilsonPosted
- Investor
- Daphne, AL
- Posts 1,121
- Votes 242
We would never lend on a private money mortgage at 6%. Too much risk and not enough return. Good luck
Post: Foreclosing on a Land Contract
Al WilsonPosted
- Investor
- Daphne, AL
- Posts 1,121
- Votes 242
I am not in Michigan, but I would not try to institute any kind of foreclosure proceedings anywhere without consulting my attorney. Good luck.
This is an excellent question for your CPA. Good luck.
Post: New Porch Tax Implications (expense,capital,partial disposition)
Al WilsonPosted
- Investor
- Daphne, AL
- Posts 1,121
- Votes 242
Wow. If you do not have a CPA, I would get one. Regardless, BP is a wonderful arena, but it is no substitute for advice from an experienced, local professional.
Post: New Porch Tax Implications (expense,capital,partial disposition)
Al WilsonPosted
- Investor
- Daphne, AL
- Posts 1,121
- Votes 242
Excellent questions for your CPA. Good luck.
Post: Landlord not renewing lease
Al WilsonPosted
- Investor
- Daphne, AL
- Posts 1,121
- Votes 242
This is a legal question that should be posed to a local lawyer. Good luck.
Post: Schedule e
Al WilsonPosted
- Investor
- Daphne, AL
- Posts 1,121
- Votes 242
All of the ones I have worked with have their CPA do this. Good luck.
Post: Tenant says house is haunted
Al WilsonPosted
- Investor
- Daphne, AL
- Posts 1,121
- Votes 242
You should be able to charge extra for a haunted house. May want to get the local newspaper to do a feature story. Good luck.