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24 January 2025 | 3 replies
They collect EMD from multiple potential buyers - then transferred the EMD into an interpleader accounts in hopes of absconding with all the EMD.
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25 January 2025 | 2 replies
The seller said this is in a gentrified area so there's potential to rehab this effectively and get a high payout as shown in the last comp.
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22 January 2025 | 13 replies
@Brooke Carlton I found a potential solution to this problem!
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23 January 2025 | 11 replies
Keep track of 3 buckets.1) Owner occupied portion - potential deductions for schedule A2) Tenant occupied portion - potential deductions for schedule E3) Jointly occupied portion - likely prorated for both schedules.There are nuances to this, so I recommend looking for a tax pro who can coach you on this.
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23 January 2025 | 10 replies
If you currently rent for $2,500 and take the $1,750; you have additional positive cash flow of $750 for your rent situation.Have you thoroughly looked over the capex potential issues?
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10 February 2025 | 16 replies
We’re simply cheerleaders, fellow players, and coaches trying to get the new players to live up to their potential.
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14 January 2025 | 5 replies
You can often get better rates with a national lender, but the customer service is non-existent, communication probably sucks, they may ask for the same documents multiple times, etc.
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10 February 2025 | 10 replies
Escalation clause is an attempt to combat that potential lie.
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27 January 2025 | 1 reply
Buyers and sellers should consider some amount of closing money be held in escrow after closing to cover potential problems with the non-responding tenants.Does anybody have any experiences to share with successful use of a Tenant Estoppel Letter, or times they wish they'd know about this tool before entering a Purchase and Sale Agreement?
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22 January 2025 | 0 replies
This is much lower than the costs associated with refinancing.Benefits of Mortgage RecastingLower Monthly Payments: The most immediate benefit is a reduced monthly payment, which can free up cash for other financial goals.Save on Interest: By reducing your principal balance, you’ll pay less interest over the life of the loan, potentially saving thousands of dollars.No Credit Check or Appraisal: Unlike refinancing, recasting doesn’t require a credit check, income verification, or home appraisal, making it a quicker and simpler process.Keep Your Current Interest Rate: If you have a favorable interest rate on your current loan, recasting allows you to maintain it while still lowering your payments.Drawbacks of Mortgage RecastingRequires a Lump Sum: Not everyone has the cash on hand to make a significant lump sum payment, which can make recasting inaccessible for some homeowners.Doesn’t Shorten Loan Term: While your monthly payments are lower, recasting doesn’t reduce the length of your loan.