11 October 2024 | 27 replies
Same as the experience for the self employed borrower.
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14 October 2024 | 7 replies
This is a fairly common situation.On whether you should "let him go" or not, the question is, are you going to hold him to the terms of your lease regarding early termination or release him without further rent or early termination obligation.
18 October 2024 | 34 replies
Under the $100k property example, something as common as having to replace the sewer line will put you under water and you are more likely to have to come out of you personal reserves to cover operational/cap ex expenses or debt service than in my $6M loan example.Remember cap ex and operations are normally more easily absorbed in the A location assets.
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13 October 2024 | 3 replies
I think it is common to analyze deals and see negative cash-flow, BUT what are you analyzing?
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13 October 2024 | 23 replies
Only nonrecourse loans will not affect your personal DTI - if you personally guarantee the debt, you're going to take the DTI hit for it unless you can qualify for it to be excluded.Find a local lender who is skilled in working with self-employed and investor clients and talk through your situation with them.
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13 October 2024 | 5 replies
Like in MS its quite common to transfer title that way and title is insurable in other states your right all the quit claim did is release an interest .
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12 October 2024 | 2 replies
Already a co-owner of single family home with shared common space and bedrooms rented to individuals.
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13 October 2024 | 54 replies
It's common when you do these water payments that a few will pay the rent but not the water bill in protest.
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16 October 2024 | 13 replies
Over time, Section 8 rents did not keep up with market rents for my properties, so I slowly converted them to market tenants.Pros of Section 8:You are likely to have families as tenants, so it is more common to have long-term tenants.These are lifelong renters, so you don't get calls for stupid stuff that really should be tenant's responsibility.Most are used to slum lords, so simply being responsive builds huge amounts of goodwill to you.Cons:the biggest one, for me, was the annual inspections.
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14 October 2024 | 37 replies
Does this require your employer to setup the plan?