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8 July 2024 | 4 replies
This scenario seems to give the buyer what they want, and unless the land contract forbids subleasing, it works well with the existing land contract in place.If and when you exercise the option, the buyer (who will actually be the owner at that time) still prefers an installment sale for tax purposes, that can be done.
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8 July 2024 | 20 replies
A our most expensive items were AC units (I have yet to spend a single dollar on our tile roofs.) and they could be paid out of the current months rent.
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7 July 2024 | 42 replies
The squatter never installed nor picked up the material so I was under the impression that nothing was being done after I wired him money because nothing has been installed.
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9 July 2024 | 27 replies
To me, the solar is a burden because it doesn’t generate much income and the installation company went out of business so there’s no labor warranty.
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10 July 2024 | 112 replies
The fun will continue next April and many after as I attempt report this and other installment sales accurately to uncle sam.
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3 July 2024 | 14 replies
I'm doing some improvements before listing on Airbnb, including installing a small half bath in the attic bedroom.
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7 July 2024 | 1 reply
The challenge that many borrowers run into when looking for larger equity lines with limits of $250k+ is that they typically require full income verification (not always bank statement and DSCR exist) with lower DTI ratios (43-50%) however although the repayment scheduled is based off a simple interest only payment, (usually a 30 year amortization schedule with the initial draw period of 5-10 years) the qualifying rate is based off of the converted twenty year amortization schedule (240 equal installments) of the payback period.
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6 July 2024 | 11 replies
To my understanding too, you can rent your property out while you wait for the inspection and results, and if you miss some items on the inspection they're pretty easy to work with to get it remediated (In my inspection I was missing a smoke detector in the basement and they let me send photos when it was installed).
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6 July 2024 | 10 replies
In that time the water heater (brand new and installed 2022) built up soot on the ignition area, at one point the tenant repaired themselves and it worked but went out again.
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5 July 2024 | 5 replies
I can help you ballpark your ground up builds or renovations, or ad hoc questions like "What does tile/flooring/painting cost in $/SF?".