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26 November 2024 | 3 replies
I have been deliberately managing it as a rental (ie, contract, collecting rent, etc.).
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26 November 2024 | 18 replies
The good thing about househacking a legal multifamily unit is that lender allows you to use the vacated units of 75% market rent as an income to offset the potential current mortgage.
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3 December 2024 | 19 replies
I believe that within three years, rates will be much lower, and you can refinance.Another consideration is that once you get a property under contract, you should immediately shop around for better rates.
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24 November 2024 | 2 replies
The new law in Oklahoma for wholesaling activity called "Predatory Real Estate Wholesaler Prohibition Act"states that an equitable interest (a wholesale or assignable contract) can not be PUBLICLY MARKETED as shown below.
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25 November 2024 | 12 replies
Regarding number one, while it may or may not be legally necessary (not sure), I think it's a good idea to have a separate account for each entity.
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25 November 2024 | 11 replies
Generally there is consensus that DSCR Lenders can only offer a 1% prepayment penalty for up to 3 years in MI, but some lenders have recently reportedly been flaunting this rule - I would just tread carefully here in this area, generally not advisable to get potentially tangled up in a flawed legal doc with a non-sophisticated or fly by night lender
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26 November 2024 | 11 replies
Right now interest is in the 6 figure.I spend a great deal of time on it with the contracts and accounting .
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22 November 2024 | 5 replies
This also leads owners to ASSUME simpler is better when it comes to management contracts.
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23 November 2024 | 15 replies
An LLC creates a legal separation between you and the property, so if something goes wrong—like a lawsuit or debts related to the property—your personal savings, home, and other assets are shielded.
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22 November 2024 | 13 replies
Get it under contract, ask for all the leasing leads, why hasn't this seller signed anyone?