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28 August 2024 | 11 replies
Or as my wife likes to call it: "man-sitting"Contractors unwilling to execute on what you hired them for (I.e. current flip, cabinet installers were supposed to put up fill and crown.
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28 August 2024 | 14 replies
There are travel nurses & people who come from overseas for training who book for the full price sometimes for 3-6 months.
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31 August 2024 | 36 replies
We invested lots of $$$ for the education, but then when you attend, they try to sell you additional executive coaching for $25,000.
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27 August 2024 | 9 replies
I know a lot of people on BiggerPockets talk about real estate investing as a means to an end, but I'm think I might also just really enjoy the strategy, execution, and hands-on work involved.
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27 August 2024 | 12 replies
Here are the Fannie Mae guidelines for legally non-conforming properties:If the Property's characteristics are legally non-conforming, you must:ensure the Borrower executes the Modifications to Multifamily Loan and Security Agreement (Legal Non-Conforming Status) (Form 6275);confirm whether, if fully or partially destroyed, the Property's Improvements can be fully rebuilt to the pre-casualty condition per current laws, zoning requirements, and building codes; and if the Property’s Improvements cannot be fully rebuilt to the pre-casualty condition, evaluate if the as-rebuilt Property will support the Mortgage Loan at the current Tier, and document your analysis in the Transaction Approval Memo.To assess the Borrower's ability to rebuild Improvements on a non-conforming Property to a level that will support the Mortgage Loan at the current Tier, you should consider: conducting a threshold analysis to determine the resulting actual amortizing DSCR if the reconstructed Improvements cannot be rebuilt as-is per current law; the likelihood of a casualty event (e.g., wind, earthquake, fire, flood, mine subsidence, etc.); the percentage of damage to the Improvements at which the Property’s jurisdiction will require the Property be rebuilt to current zoning and land use requirements (i.e., the destruction threshold); which Property characteristics the destruction threshold percentage applies to, such as market value, assessed value, replacement cost, or unit count; for Properties with multiple buildings, if the destruction threshold percentage applies to each building, or all buildings as a whole; the replacement cost to rebuild per current requirements for zoning, and land use; the Property’s continued marketability, and economic viability; the amount and type of Borrower-maintained insurance coverage required per Part II, Chapter 5: Property and Liability Insurance, Section 501.02C: Ordinance or Law Insurance; insurance loss proceeds payout, compared to increased rebuilding costs, including from building code changes, Americans with Disabilities Act compliance, and the municipality's local zoning requirements (e.g., green compliance for new buildings, etc.); the sufficiency of estimated insurance proceeds from ordinance or law insurance and other coverages to repay the Mortgage Loan in the event of partial or full casualty, or condemnation; and for a Tier 3 or Tier 4 Mortgage Loan, if requiring execution of the Limited Payment Guaranty (Form 6020.LPG) would mitigate the risk of the as-rebuilt Property not supporting a Tier 2 Mortgage Loan.
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29 August 2024 | 7 replies
I think you go where the opportunity is and where you have some leverage and if you feel that Tennessee offers you that, I would look there, just be prepared to use that as a learning experience, so you may need to travel more, which it sounds like you're willing to do.
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28 August 2024 | 11 replies
The individual is not a senior officer of the reporting company.The term “senior officer” means any individual holding theposition or exercising the authority of a president, chieffinancial officer, general counsel, chief executive officer,or chief operating officer, or any other officer, regardless ofofficial title, who performs a similar function. Yes NoInheritor (Exception #4)An individual qualifies for this exception if the following criterion applies:1.
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26 August 2024 | 0 replies
This steady income has become a reliable part of my investment portfolio, demonstrating the financial benefits of a well-executed real estate strategy.Reflection:Looking back, this investment has been a rewarding journey of vision, effort, and strategic planning.
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29 August 2024 | 19 replies
Have you executed on this method?
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26 August 2024 | 4 replies
I submitted the affidavit of continuous use executed by seller with each application and for one I was issued a billing statement for the back rental license fees, interest and penalties and for the other I was issued a refusal and had to seek a variance.