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31 August 2016 | 8 replies
This is what I have come up with for myself.I am going to specialize in FSBO properties, buy and hold/flip investors, facebook ads, and FB group posts for buyer leadsI created a pretty lengthy "how to sell your home" guide for FSBO properties, I plan to stay in front of other agents by actually knocking on doors, and delivering the guide to them in person, and then using that to set up a follow up appointment when I can deliver a free CMA.
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30 August 2016 | 1 reply
Can you deliver the money, and the seller sign a deed in one day...sure.
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13 September 2016 | 12 replies
He can not make a loan to himself and not deliver the lender's consideration in the contract and then try and take that contract to the secondary market as legit to sell it to another investor.
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7 September 2016 | 12 replies
@Yadira Gutierrez,Your manufacturer should have pictures of house modules being assembled inside their plant, being delivered to the site, put into place by cranes.
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5 September 2016 | 7 replies
Don't forget to check out the podcast, there is so much value and expertise delivered for free on a weekly basis!
3 September 2016 | 3 replies
Buyers did all they could to follow escrow schedule while selling agent did not perform as outlined in escrow schedule (selling agent/seller chose escrow company).Selling agent requested us to remove loan contingency, while buyers submitted a notice to perform to seller to deliver the all the signed lease agreements as well as a 1 week extension on closing date for loan (loan officer and buyer's agent have strong relationship and in my understanding, had to work really hard to get through all the hurdles so far).Can I get your thoughts on the situation, potential scenarios, and how the buyer can successfully purchase the home?
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4 September 2016 | 14 replies
I tried to include all the pertinent information below:Rental Income: $13,200Rent: Currently has a tenant on one side at $550 per month without a lease – I’ve made it a condition of the sale that the tenant has either signed a new lease with my property management company or delivers that side vacant; other side is not rented out due to required rent ready repairs; rental comps in the area show between $550-600 (I’m being conservative and assuming $550).Expenses:Vacancy: 10% ($1,320)Property Management: 10% of gross rents ($1,188)Property Taxes: $2,065 ($905 for City of Memphis, $1,160 for Shelby County)Property Insurance: $450 per year Repairs and Maintenance Assumption: 2% of Property Value per year ($980 per year)Utilities: separately metered; all paid by tenant except for lawn mowing at $25 once a month for $300Advertising: 6% (roughly ½ of first month’s rent) $792 per yearDebt Service: Based on $49k purchase + repair price, 20% ($9.8k) down, 5% 30 year fixed is $2,525 per yearLocation:This is probably where most of my concern is coming from: Western edge of Hickory Hill, Memphis, 38115; major cross streets: just SW of Clarke Rd and Winchester RdAcquisition:Purchase Price: $42k, seller to pay closing costsRepairs: $7.5kTotal Acquisition Cost: $49.5kARV: Large range of comps in the area, best guess is $60kFinancial Metrics:Net Operating Income: $6,105Cap Rate: 12.33%Cash Flow: $3,580 per year, $298.33 per month, $149.17 per unit per monthCash-on-Cash Return: 36.5%Do you think it's a good deal?
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7 September 2016 | 22 replies
@Mario Furmanczyk, like others have said...I would definitely not close without a contingency that the unit is to be delivered vacant.
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28 September 2016 | 5 replies
The tenant is TAW, so the Constable had already delivered the 30 days notice.
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24 August 2017 | 10 replies
He was so late delivering the inspection report that I had no choice but to sign the P&S without it.