All Forum Posts by: George Genovezos

@Michael Lenahan

Yes. I do. We have not started suing the government but we are in discussions.

I would agree with you that we should not sling rumors and speculation, but we have a bill. And we also had a bill that became a law, that is costing us money right now.

Prevention is what I'm looking for.

@Michael Lenahan,

One school of thought is we're worrying about something that not happen, then again, did we ever expect to live in a country where our contracts could be null and void?

I have a tenant who has not paid since February. I started the eviction process and then Covid hit. Now, because I have a fannie loan, I can't continue the process until July. Who knows how long the courts are backlogged.

So my lease is pretty much null and void since I cannot execute the eviction because the law states I cannot.

We can't just sit here like pigs to the slaughter. We need to reach out to our congress representatives and senate representatives and let them know we're neither huge corporations nor fat cats but rather ordinary people and they are jacking with our livelihood.

Hi all,
I am in the middle of doing a refi. the appraiser found mold. I'm about the clean it up and put some anti mold primer on it.
I need to have an mold inspector certify it. Anybody knows someone in the business? property is in crowley (South FW)
Thanks

thank you gentlemen. I am working with a real estate cpa, but I still want to educate myself.  Let me ask the question a different way. 

When can I not use rehab for bonus depression.  Assuming I do qualify under the 4 tests the IRS has given under who can apply

Hi all,

I have a question regarding bonus depreciation. I purchased a 14 unit last year, and one of the units was down. I had to paint, replace floor, add a kitchen countertop and cupboards...

Do all these qualify as bonus depreciation or do I need to put them under standard?

what about the labor?

@Alex Bekeza They undercut the ARV even through I provided comps.

@Stephanie P. Yeah. I get it but a 1% Line of Credit Fee, Commitment Fee = $895, and Legal Fee $2,500 starts to get excessive. I have a ~750 credit score and managing 24 units. It shouldn't be that difficult

@Wayne Brooks Not entirely true. I have a few apartments I could use as collateral.

So? is anybody give more favorable rates that what I listed above?

Hi all,

I recently had to walk away from a deal because I  didn't have a good hard money lender.

Just wondering who's giving favorable LOC or similar loans, or even a good hard money lender. Looks like some are scams and others are fee heavy.

ANY help is greatly appreciated.

@tammy Patchin

I have property up in Wichita falls.  We definitely need to talk

@Jelashea Johnson

Welcome to BP. I'm in Bedford and investing all over DFW and outskirts let me know if you need anything.