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4 September 2024 | 14 replies
@Gabriel Graumann actually this is a multi unit property where there are 2 parcels (2 building adjacent to each other 4 units on both sides).we are working with a lender who has agreed to do a conventional loan as it has only 4 units on each side (so 2 applications) - lets see how things go.
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2 September 2024 | 8 replies
Some terms you may find helpful:Repayment Schedule: Clearly outline the payment schedule (monthly, quarterly, etc.).Balloon Payment: If applicable, specify the amount and due date of any balloon payment.Prepayment Penalty: State if there’s a penalty for paying off the loan early.Default Terms: Clearly define what constitutes a default and the consequences, such as foreclosure procedures.Insurance Requirements: Ensure the buyer maintains property insurance.Maintenance Responsibilities: Clarify that the buyer is responsible for property maintenance and repairs.I hope this helps you out, have a great day!
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2 September 2024 | 24 replies
The landlord would be putting themself at risk by failing to apply consistent approval criteria for their rental applicants, which is what Fair Housing law is all about.
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2 September 2024 | 22 replies
Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).
2 September 2024 | 8 replies
You can invite as many people as you wish to access the software both on their laptops and on their smartphones.
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3 September 2024 | 47 replies
I create my own checks (which I have software for) when I need them.
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2 September 2024 | 11 replies
Including this income could strengthen your application and increase your chances of securing a lower rate.
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1 September 2024 | 1 reply
A potential applicant (with a voucher) asks for a Deleading certificate for a multifamily in MA.
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31 August 2024 | 11 replies
Before getting into real estate, I dabbled in Information Technology where the concept of open source software runs strong.
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30 August 2024 | 17 replies
There are rental management software programs you can leverage at a fairly reasonable price, which is what I used to get started (I'm still a newbie).