
20 November 2024 | 2 replies
Defaults and Remedies A default exists under this note if (1) Borrower defaults in the payment of this note or in the performance of any obligation in any instrument securing or collateral to this note; (2) (a) Borrower or (b) any other person liable on any part of this note (an "Other Obligated Party") fails to timely pay or perform any obligation or covenant in any written agreement between Lender and Borrower or any Other Obligated Party other than as described in (1) above; (3) any representation in this note or in any other written agreement between Lender and Borrower or any Other Obligated Party is materially false when made; (4) a receiver is appointed for Borrower or an Other Obligated Party or any property on which a lien or security interest is created as security (the "Collateral Security") for any part of this note; (5) any Collateral Security is assigned for the benefit of creditors; (6) a bankruptcy or insolvency proceeding is commenced by Borrower, a partnership of which Borrower is a general partner, or an Other Obligated Party; (7) (a) a bankruptcy or insolvency proceeding is commenced against Borrower, a partnership of which Borrower is a general partner, or an Other Obligated Party and (b) the proceeding continues without dismissal for sixty days, the party against whom the proceeding is commenced admits the material allegations of the petition against it, or an order for relief is entered; (8) Borrower, a partnership of which Borrower is a general partner, or an Other Obligated Party is terminated, begins to wind up its affairs, or is authorized to terminate or wind up its affairs by its governing body or persons, or any event occurs or condition exists that permits the termination or winding up of the affairs of Borrower, a partnership of which Borrower is a general partner, or an Other Obligated Party; or (9) any Collateral Security is impaired by loss, theft, damage, levy and execution, issuance of an official writ or order of seizure, or destruction, unless it is promptly replaced with collateral security of like kind and quality or restored to its former condition.

20 November 2024 | 5 replies
It also depends on market conditions and availability of cash in the market, both of which will create more or less "meat" so to speak in the deal.

18 November 2024 | 2 replies
In my market it seems the higher-quality renters want interaction.

18 November 2024 | 9 replies
Quote from @DeAnna McKillop-Lopez: I have been hearing a lot of people speaking about putting your holding LLC into an irrevocable trust.

18 November 2024 | 1 reply
Speak to your tax advisor about tax ramifications of giving your LLC a property

20 November 2024 | 27 replies
Majority of the renters on there are travel nurses which helps with the tenant quality (in my opinion).

20 November 2024 | 11 replies
@Jay Seville can't speak to a 2/2, but even a well-managed (85%+ occupancy) 600sqft 1/1 with view and close proximity to the beach can hit 57K on the Emerald Coast.

19 November 2024 | 0 replies
You can make an election (be sure to speak with your CPA about this) to treat all of your rental activities as a single activity.

21 November 2024 | 16 replies
It may be required on a Commercial, DSCR, or Hard Money loan but I would encourage you to speak to multiple lenders to find out which specific loan program you need for your goals and qualifications.

20 November 2024 | 9 replies
If you and the tenant can work things out amicably and determine a move out date + monetary amount for early lease termination I'd also speak with them about having permission to show the unit prior to their move out date.