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23 January 2025 | 5 replies
I also pay my mortgage for the house I live in.
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14 February 2025 | 19 replies
My realtor is asking for $3000 flat fee + additional listing broker compensation of $400.What would you pay total for buyer/seller?
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26 February 2025 | 22 replies
It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.
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15 January 2025 | 11 replies
I initially got a variable loan.
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23 January 2025 | 3 replies
Quote from @Shawn Questa: Hi all,I am curious what some of the Pros would do to Help a Seller in this situation while making a Deal happen.I found a 200+ day old MLS Listing where the Agent said the Seller is in Financial Ruin, hasn't Paid the Mortgage in a year, owes about 180k on an approx. 210k House and multiple Buyers have backed out.I don't know how someone could not Pay their Note in a year and not at least be in Pre-foreclosure.
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29 January 2025 | 2 replies
My two partners are willing to pay their share, but they’ve also offered me the option to take over the property completely since the loan is in my name.Here’s my dilemma: If I keep the property and rent it out, I could get around $2,300 in rent, but my mortgage is $3,300 at a 7% interest rate.
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22 January 2025 | 4 replies
If you’re In a title state make proof of utility pay off a condition of closing.
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6 January 2025 | 5 replies
This initial negative equity position consumes the initial cash flow. 2) the addition of the adu makes the property multi family and likely makes rent control apply.
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24 January 2025 | 3 replies
And, it's amazing how many closing costs are junk fees that we as investors need to pushback on paying for ourselves and our clients.
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23 February 2025 | 25 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Section 8: Rents are too high for the program and cash paying tenants are better overall.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsSection 8: Rents are usually too high for the program.Class C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.