All Forum Posts by: Mark Bookhagen

It is common to do what you want to do, but your lawyer is correct.

You might be in a good position to buy for cash, then cash out finance. 

The bank is going to have an issue with you borrowing down payment funds for an investment property.

I'd be surprised if you can get a loan on a property that needs that much in repairs.

An annuity.

I'd collect May if you haven't yet, and then tell them a couple days later. You have until the 31st of May to tell them, but the more time you give them the more likely they'll be out on time. No need to give explanation to tenant; it will turn into an argument.

Seems reasonable. Might want to add vacancy expense if it isn't in there.

Sounds like a good plan.

Make some cash from the flip and then use it to buy a multi-family home. Repeat.

The difference between 1900 and 1910 is basically zero. The difference between 2010 and 2000 is significant. The difference between 1900 and 2000 is extremely large (almost too large to even us as a comp).