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19 July 2024 | 23 replies
Please inbox me and I will make an introduction to my associate's company who has hundreds of units under management in North Jersey with focuses on the areas you said above.
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19 July 2024 | 6 replies
also, do you inherit the other liens associated with the property, ex.
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20 July 2024 | 10 replies
I would surmise the bank places a lien on the title of the MH...In our state, MHs are considered "personal property" and have titles associated with them.
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20 July 2024 | 6 replies
Below are a few ideas to think about.Appraisal Concerns: Include a clause in the counteroffer to address any potential gap if the appraisal comes in lower than the offer price.Closing Costs: If the requested $10k seems high, propose a lower amount or adjust the sale price to cover some of these costs.Escrow Deposit: Counter with a higher deposit to ensure buyer commitment.Financing Contingency: Make sure there's a clause that protects you if the buyer’s financing falls through.VA Requirements: Understand and prepare for the specific requirements and inspections associated with VA loans.Professional Advice: Consult with a real estate agent or legal professional for tailored advice.Communication: Maintain open communication with the buyers for a smooth negotiation process.Best of luck with your sale,KC
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20 July 2024 | 16 replies
Yes, you read that correctly, the appeal can go either way or stay the same, you lose if the taxes go up.My brother appealed taxes on a house in Philadelphia and got a 12% reduction using the guy below:Jerald GoldfineRE Tax Associates of Pennsylvania LLCGood luck.
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19 July 2024 | 3 replies
Start by talking to a bank or whoever you plan on getting the loan from to find out how much you can borrow and what the costs are associated with that.
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20 July 2024 | 24 replies
I don’t know that there are certain buildings particularly and heavily populated areas that do not allow for Airbnb rentals but that’s completely different Love you deals directly with the homeowners Association of the property and not necessarily Airbnb or the state of Florida.
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18 July 2024 | 7 replies
What everyone else said above is accurate and all types of RV parks are more management intensive than a MH park, but to a varying degree depending on the type.
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20 July 2024 | 22 replies
I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.
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19 July 2024 | 100 replies
There is 0 requirement of this as a fiduciary to seller and anyone with any law degree should well know this.