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10 October 2024 | 19 replies
ATTORNEY, with experience in real estate transactions.
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6 October 2024 | 8 replies
In your second example where your company enters into a purchase contract with your father for $135k and then he assigns the contract to you for $150k, I'm guessing (since you mention getting a mortgage for this transaction) that what you're hoping it will do is create an artificially high sales price so you can get a mortgage on the higher amount (i.e. $150k vs $135k).
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5 October 2024 | 1 reply
., daily vs. monthly compounding).Bi-Weekly Payments: Paying bi-weekly effectively means you're making one extra payment each year (26 half-payments vs. 12 full payments).
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7 October 2024 | 1 reply
Remember, C/D located properties generally appraise once improved for significantly more than they will actually sell in an arms length transaction so you can go to many C/D neighborhoods, successfully complete the BRRRR method but deal with all of the operational difficulties of the asset class and then fail to achieve a sale figure remotely close to the favorable appraisal that allowed for the proceeds to be returned through the refinance.
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5 October 2024 | 19 replies
There is a company called 24hourclose.com and apparently they are closing these transactions in South Carolina.
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7 October 2024 | 4 replies
I can only imagine that the QI implimented this lanquage to prevent something that happened to them on a another transaction.
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6 October 2024 | 1 reply
It's not just about the transactions, but about viewing each property as a long-term asset and considering its potential for growth and income generation.
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5 October 2024 | 4 replies
If looking to only do it for yourself no need to pay out big splits or have desk fees, instead there are a few flat fee per a transaction with no monthly fee style brokerages.
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6 October 2024 | 49 replies
You need to find a buyer's agent who is a better fit, who can represent you well in the transaction.
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6 October 2024 | 8 replies
Here is some info on that as for"skin in the game".Gift funds are acceptable as 100% down payment for loans <75% LTV/CLTV Gift funds are acceptable for loans >=75% LTV/CLTV; however, the underlying Borrower(s) must contribute at least5% of the transaction (lower of Purchase Price or Appraised Value) from their own fundso Example: A $500,000 purchase price where the LTV/CLTV is going to be 75% or higher would require the borrower to have a $25,000 of their own funds provided ($500,000 x .05% = $25,000)