Matthew Chiarello
First time creating a seller financing offer
30 January 2025 | 3 replies
if you never miss a payment and the bank doesn’t call the loan due.
Praveen Kumar
Rent to retirement
27 January 2025 | 6 replies
It's really your choice if you want to select a home that has already been leased prior to closing or not.
Leeling Chew
Best Course of Actions To Remove a Difficult Tenant
27 January 2025 | 6 replies
But because you rent by the room and YOU SELECTED the roommates (for which the other roommates had no control over), that makes you directly responsible to the other tenants should any harm or damage come to them.
Desiree Rejeili
Understanding Mortgage Recasting: What Homeowners Need to Know
22 January 2025 | 0 replies
When it comes to managing your mortgage, most homeowners are familiar with refinancing as a way to lower monthly payments or take advantage of better interest rates.
Joe S.
Creating a note in order to sell it.
27 January 2025 | 7 replies
There are some great suggestions here on down payment, interest rate, servicing, and underwriting the borrower.
Andy Wang
Should I sell my note? 1.2M @ 8.5% for 4.5 yrs
27 January 2025 | 7 replies
Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option.
Tim Brinsek
Analyzing a Deal with Private Money Covering Part of the DP
30 January 2025 | 5 replies
(Even went beyond the second page of Google.)I have an investor who wants to partner on a deal by providing a loan for the down payment.
Nathan Noorlun
Recommend Property Manager in Sacramento CA
4 January 2025 | 5 replies
To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!
Phillip Austin
TREND - PM companies offering financial assistance for security deposit down payments
27 December 2024 | 8 replies
Because the payment is coming from the tenant, and not the surety bond provider, claims are always processed without a fight.If you are interested in considering a surety bond program, I recommend Obligo.