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12 July 2024 | 7 replies
Also, agree on how the property will be used, who can live there, and under what conditions.Contribution Reconciliation: Determine a process for handling situations where one party cannot meet their financial obligations or if there are significant discrepancies in contributions to expenses.Legal and Professional Fees: Decide how legal and other professional fees related to the purchase and management of the property will be shared.Taxes: How will the tax advantages be divided?
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12 July 2024 | 1 reply
I list REO and corporate owned properties.
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12 July 2024 | 5 replies
I've been in the real estate accounting field for almost 20 years, and in my experience, it's helpful to think of the software you use in two distinct levels:Property Management (PM) Software: This handles the property-level operations.Dedicated Accounting Software (like QuickBooks): This is used for corporate-level accounting.Not all PM platforms come with robust accounting modules.
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9 July 2024 | 2 replies
We’ve considered setting it up for a corporate rental or a rental for traveling nurses.
12 July 2024 | 8 replies
You can offer them cash or different terms to vacate if you wish, but they don't need to oblige.
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12 July 2024 | 9 replies
The tenant is obligated to all lease terms until a new lease starts.
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13 July 2024 | 19 replies
D. (2) states "if third-party payments received exceed Buyer's obligation, the excess amount shall be paid to Broker, or credited to Buyer, or __" with the buyer's agent selecting if excess above the agreed payment amount shall go to the broker, buyer, or someone else. meaning that the buyer could receive the excess if the commission offered is higher than that agreed to between the buyer and their agent.
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11 July 2024 | 4 replies
Googling, I find that it is not uncommon for corporations (which the property I am interested in appears to be), to sell their properties with SWD rather than GWD since they may have aquired it during foreclosure, etc.
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12 July 2024 | 11 replies
If scaling is truly impossible and you hit a ceiling at $80000-$90000 a year (figure I have got by googling "How much wholesalers make"), then it's indeed kind of a dead end a job with only benefit of working remote and making your own schedule, away from corporate world and office politics/nonsense.
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11 July 2024 | 1 reply
Screening for financial stability and rental history can indicate whether a tenant is likely to fulfill lease obligations responsibly.- Legal Compliance: Tenant screening helps property owners comply with fair housing laws and regulations.