Skip to content
×
PRO Members Get
Full Access
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime.
Level up your investing with Pro
Explore exclusive tools and resources to start, grow, or optimize your portfolio.
10+ investment analysis calculators
$1,000+/yr savings on landlord software
Lawyer-reviewed lease forms (annual only)
Unlimited access to the Forums

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
Results (10,000+)
Peter Christiansen Preselling a Flip
7 September 2015 | 7 replies
There are a lot of other threads on this topic...Generally speaking, the consensus is that you should get a very detailed scope of work for what the buyers want (and what you'll customize), collect a very large non-refundable deposit upfront to cover the cost of having to redo all their customizations should they back out (and also being compensated for the lost time), and then be prepared to have the buyer micro-manage you throughout the process and mess up your schedule with change-orders and last-minute issues.Personally, I think that unless you have a lot of experience in this business, trying to customize a house for an end-buyer is going to pose more headaches, risks and wasted time than it's worth. 
Tyler Harz New Member from Pennsylvania
7 September 2015 | 6 replies
Welcome to the community @Tyler Harz is right that BiggerPockets contains a wealth of information.
Trevor Cross advice on finding direct info on foreclosed home in Oregon
5 September 2015 | 5 replies
Just ask for their customer service department.  
Raj Pat Private Equity Funds Who Purchased in 09-14 ready to release home
5 September 2015 | 2 replies
Those loans typically contain a yield maintenance requirement that would make it really costly to sell before the yield maintenance times out (unless there is a spike in interest rates).I think that any notion that liquidation of SFRs by the PE firms will result in a drop in home prices is overblown.  
Chase Schmidt Should I Sign "Exclusive Right to Represent Buyer Agreement"?
7 September 2015 | 22 replies
@Russell Brazil there is so much that you just wrote that I disagree with, that we'll have to just agree to disagree because as a customer I am looking to a realtor for their best judgement based on their experience to assist me with the best possible purchase taking in all the relevant considerations tied to the ever popular location, location, location mantra and financial criteria important to the client.  
Seth Kitchka New to Buildium, experienced PM software users come on in!
12 September 2015 | 20 replies
As for buildium - if you record the transactions correctly you will have an accurate Cash flow statement to look at - it will not take into account anything you have paid towards principal and subtract that from  your noi provided you make the entries correctly and have the chart of accounts set up correctly.So the tricky part is recording the initial entries - I'd actually suggest if you plan on making the move "Officially" Jan 1 2016, start now and enter all transactions for 2015, and 2014 (if you can) into Buildium - it will make the flow go so much smoother and you can learn as you go, insuring you are setting up things correctly as you go along.To record a mortgage in place, just follow their tutorial - (customer service might even walk you through it as well)First you need to have the appropriate accounts set up on the "Chart of Accounts"You could do it any number of ways - one way I'm doing it is -- have a main account titled "Mortgage" under liabilities  (long term liability)Then a sub account of Mortgage titled "US Bank Mortgage"   "XYZ Bank Mortgage" -- or "Mortgage - US Bank" etc -- Then you will want an account for "Interest" under expenseThen under Assets you'll want an account titled Escrow - then if you want to further track things I'd suggest setting up a sub account titled "Escrow - US Bank" or "US Bank Escrow"  or "XYZ Bank Escrow" etc    (Escrow would be a current asset)After that you'll need your current mortgage statements -- to start the books you'll need to enter a general journal entry for Escrow, Interest, Principal (Mortgage)Once you have that you're off to the races and can enter the mortgage payment each month, however you'll need to know the breakdown of Principal, Interest, & Escrow - for example the entry in your bank account will look likePayee -- US Bank -- you'll enter the date etcThen below you'll have the breakdown of the total where you'll enter $400         Principal$300         Interest$150       Escrow-------------------------------At the bottom Buildium will automatically add up the totals to whatever your house payment is for the month -- in this case $850Hope this makes sense -- best thing is to just play around with it a bit and keep checking yourself on the entries and in the general ledger -- your mortgage payments have to be entered manually every month, however this takes little time if your mortgage company offers online account access and gives you the payment breakdown - can be done in a couple minutes.Get over the biggest hurdle which is setup and the rest will be SO much easier.  
Edward Mitchell Is wholesaling legal in Illinois? (Chicago Suburbs)
10 September 2015 | 7 replies
Thus, you would want to be certain when doing any advertising that the ads contain clear language that sufficiently explains the situation.
GK Hughes info about wholesaling in Virginia Beach
24 September 2015 | 10 replies
Coming into this site I didn't think I'd get the support I needed and I was afraid the site would prove to be more about finding customers to push real estate products on than helping people like myself.  
Michael Zagorsky Expectation of property management getting multiple bids on HVAC?
6 September 2015 | 2 replies
I assume most PM companies (especially the large ones) have go-to contractors (perhaps even contracts), which saves them lots of time, and hopefully saves the customer a little bit of money.Also, keep in mind that something like HVAC going out in the summer may be time sensitive...Personally, if I were you, and I knew the HVAC was on its last legs, I would have gotten quotes earlier, and been ready with your own contractor when the time came. 
Billy Rogers Can anyone explain how they got their credit score over 800?
29 September 2019 | 34 replies
My score is 640ish because I have multiple loans on multiple properties never late, several hard inquiries, because new rules on commercial loans require banks to pull your credit every year and I use several different small banks because I shop thier terms and price and have hit thier lending limits per customer on a couple.