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14 November 2018 | 3 replies
@Mike Dorneman that was my thoughts exactly, would be to find a partner that has a process in place and bring additional funds to the table that would allow them to either move into larger deals as you mentioned or a greater amount of units in a much shorter time frame.
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16 November 2018 | 56 replies
Buy a new stove as they are pretty inexpensive, charge the tenant half, explaining it is based on cost to repair, and move on.
15 November 2018 | 9 replies
All of this started back in 2004-2005 timeframe.
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14 November 2018 | 1 reply
(the down payment is completely relevant to the seller)Interest- 7% is pretty standard...it's a premium paid for consideration in carrying the noteAmortization- 30-years is typicalPayment- I would look for the actual P&I based on the amortization schedule, but again, this is relative to the sellerBalloon- 48-60 months is common, and this is completely up to the seller as well (If sellers are leary of the time frame, I always agree to attempt a re-finance sooner...but no guarantees)Some extras:I always pay the listing agent's commision based on the transaction price...otherwise, you can structure a partial commission the first closing and a second commission when the balloon is due...waiting 48-months for the rest of your commission is crazy, thoughWe pay all the doc prep fees (note/mortgage/amortization/assignments/personal guaranty) Typically around $300, so not bad.- use the attorney at title and add it to the HUD-1We use a clause in the note that waives the right to defend a foreclosure in default, so the property returns to the seller without contest (varies from state to state I imagine)We also pay the sellers closing costsAll of this stuff is negotiable...you can always push things with these...like lower the down payment and have the buyer pay all your clients fees and your commission, etc.Give me a shout if you want to chat more about this topic.
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15 November 2018 | 17 replies
Once that 5-day timeframe lapses (again, timeframe might be different), store belongings for 30 days, even if it's just junk.
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17 January 2019 | 30 replies
PPS - Based on what I am seeing in the comps photos I received, I am planning to install "B" level granite (probably Santa Cecilia) while reusing the existing drop in sink, porcelain tile or "stone-look" LVT floors, tile backsplash, and (hopefully) relatively inexpensive "semi-custom" cabinets (to make the most of the available space in a small kitchen where there is no possibility to expand the room).If anyone has advice about good value semi-custom cabinets, please share it with me!
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28 November 2018 | 12 replies
This will give me some buffer time to continue looking, though the timeframe could be rather chaotic.
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30 November 2018 | 16 replies
Store her belongings for the stipulated time frame then get rid of them Evictions should only be last resort.
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23 December 2018 | 13 replies
But if I'm telling my seller that I'll be cashing him out within some given timeframe, I always assumed the cash from that cashout would come from my buyer.
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21 November 2018 | 39 replies
Please see what I've attached as the guidelines to the timeframe of how much they will forgive your deferment.