The preliminary title search or report must also confirm that there are no liens on the subject property.o The source of funds for the purchase transaction must be documented (bank statements, personal loan documents, HELOC on another property).o If the source of funds used to acquire the property was an unsecured loan or a loan secured by an asset other than the subject property (such as a HELOC secured by another property), the HUD-1 for the refinance transaction must reflect that all cash-out proceeds be used to pay down, if applicable, the loan (unsecured or secured by an asset other than the subject property) used to purchase the property.

I pull some comps and found that the recent sales reflect the 200k AVR and comp homes within a 2 mile radius were selling for 195-210k.

Adjust the property taxes to reflect the new post-sale amount, add in a replacement reserve to cover things that wear out and you’ll have a ballpark figure on what the actual cash expenses are expected to be.

If rates go up and you have a balloon you could be SOL, also most brokers do not include ALL expenses in the cap rates, many you see will reflect proforma which is usually pretend numbers or could be.

I updated original message to reflect this.

The Commitment will need to be changed to reflect the new legal description and to remove the requirement to obtain a deed from Rachel Meeks.

No money managers, it is just a computer that will re-balance the fund to reflect the S&P 500.

It reflects on you as a good business manager and helps build the relationship.

BTW - that same formula is also used to set the RTT on sheriff sales, since those are almost always bought well below "fair market value" (but since that formula used doesn't take into consideration the usually terrible condition of properties in sheriff sale, it's not a true reflection of actual market value of such a purchase - but that's another topic altogether).

If you can sit down, like an REI, put your team together and be confident in your methods to reduce expenses and costs and reduce standard times, there should be a reflection of those events in your bids, which will get more assets into your strike zone.