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7 January 2025 | 16 replies
Some towns require a residential parking permit (sometimes on specific streets only within that same town) - you need to know what those requirements are and how feasible it will be.
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15 January 2025 | 14 replies
As it was said before, you want to be realistic with the time commitment this will require.
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6 January 2025 | 15 replies
The NAR settlement was ridiculous and has only forced agents to do more paperwork and disclosures, but the vast majority of us are still working the same way.The law requires the agent to sign an agreement with you.
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6 January 2025 | 5 replies
One of the major driving factors for increased premiums is the carrier's requirement for higher replacement cost limits on file for buildings.
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11 January 2025 | 14 replies
Any changes should have required your approval (ie signature).
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5 January 2025 | 3 replies
One thing though is that there are requirements coming into effect soon where wholesalers will need to get their license in PA for any properties that they wholesale, so you might want to look into that before it becomes official!
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26 January 2025 | 51 replies
or if not 50% capital required why wouldn't the other partner just find a realtor and CPA to find/underwrite the deal and 3-5% for property management then own/keep 100%?
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9 January 2025 | 21 replies
To maximize the number of transactions you’re involved in you will need to:Be Top of Mind when they think about moving - which requires consistent reminders.Be seen as an Expert – which requires a consistent message and Evidence of Success storiesGain their Trust – which requires communicating integritySo, start out by listing everyone you know in an Excel spreadsheet.
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9 January 2025 | 116 replies
You are also looking at your desired closing date and determining how much time the appraiser needs and anything else required prior to closing.
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18 January 2025 | 10 replies
@Jennifer Fernéz I run sum numbers for you with our tool, see comments and pics below before refinancing and post refinancing .Financial Breakdown: Purchase Price: $200,000 Mortgage (LTV 80%): $160,000 Interest Rate: 6% (30-Year Amortization) Mortgage Monthly Payment: $959Upfront Costs: Down Payment (20%): $40,000 Closing Costs (3.5%): $7,000 Renovation Costs: $15,000 1 Month of Carrying Costs During Renovation: $1,548Total Upfront Required: $63,548Year One Rent: Monthly Rent Income: $2,000 1 Month Rent Losses during renovations (-$2,000): -$167/month distributed over 12 months Total Rent Income: $22,000 per year => $ 1,833 per monthMonthly Expenses: Mortgage Payment: $959 Property Tax (Assuming $3,000/year): $250 per month Property Insurance (Assumption): $100 per month Utilities (Hydro, Gas, Water): $275 per month Assuming 5% Vacancy: $92 Assuming 0 % Repairs & Maintenance first year because unit has been recently renovated Total Monthly Expenses: $1,676Monthly Net Cash Flow: $157Post-Renovation Refinancing Strategy after 12 months:So far, we’ve purchased the property, completed renovations, and rented it out.Next, you can approach the bank for a refinance to consolidate a portion of your initial investment into a mortgage.