To protect yourselves from yourselves (money and friendship don't often mix), I suggest you create a Limited Liability Company LLC), complete with a WRITTEN agreement of how things will be spl...

gmac will do it

You can, but you're leaving yourself open to some strange circumstances potentially. For example, if your tenant doesn't pay the rent and you therefore can't pay him, you could wind...

the standard IRS rule is two years in the home as a personal residence. There are some exceptions for moving, changing job, etc. You should be able to do a 1031 exchange, IF you can qualify it a...

One of the most important facets for a property manager is to enforce the rental agreement. When one party (tenant) does not follow the agreement, then the property manager must read the agreement...

1. Yes, there are different rates between primary and investment properties. What they are depends on the lender, but they are always higher than primaries. Generally, the maximum LTV on investm...

The LLC prevents you from losing your personal property should something happen on the property, it does not prevent your necessity to have insurance. As the owner of the LLC you can get the insur...

Okay here's the real story on buying a property as an investment rather than an owner occupier. Firstly - yes you can buy if your renting. But because you don't own a property you won&#...

Dont forget contingent upon the appraisal . Property must appraise and pass review at the purchase price you negotiated for the contract to be valid. I would also have them pay 6% seller concession...

You sure can, I am a first time homebuyer & just bought a rental in the last 6 months( 2 homes). Both properties have neg am loans, 20% down on each home, and I am not clearing the loan and t...

If the seller holds the mortgage, you are on a contract for deed. This is exceptionally risky for many reasons. The big one is you pay the owner the monthly payment he can't get by renting t...

The value will go up in the long run, but may go down in the short term. Unless you have a large down payment the rent won't cover the mortgage payments. What's the vacancy rate like for ...

How that investment property is being used determines where the interest is deducted, and whether it would be deductible in the current year or not. If the land is being used or held as rental p...

Do you have the funds and means to meet those offers as they will be binding contracts if say they all accept? you should make the offers based on what you want to happen. Oh and GET ANOT...

What kind of Loan To Value are you looking for? Do you have any equity in a different property. If you are looking for residential revenue properties you can get 100% financing. It becomes more dif...