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21 January 2025 | 10 replies
Quote from @Michael Overall:I understand the utilities will go to basis, on the interest is it able to be yearly deducted based off the conversation you referenced if using form 4952According to one of my colleagues on that thread - yes.According to court - no.
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23 January 2025 | 15 replies
I'll restate that there are no lenders that are "signed-up".
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25 January 2025 | 2 replies
The president has zero impact on underwriting guidelines and zero direct control of interest rates. in fact the fed has no direct control of long term rates that effect mortgage rates.
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14 January 2025 | 23 replies
They have no way to force removal, other than to pay off the loan on a home they no longer own.
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26 January 2025 | 3 replies
You would want to look for an owner that has a loan through a bank or credit union or one that has no mortgage.
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27 January 2025 | 17 replies
@Chad Hale Because my accountant has access to QBO, and my bookeeper breaks down all the PM monthly reports into QBO each month, there is no need for me to send monthly/annual reports to my accountant.
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3 January 2025 | 45 replies
For example, my average terms are 90%-100% LTV and 10% interest flat no points or pre-payment penalty.
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1 February 2025 | 30 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.
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28 January 2025 | 14 replies
The reality is that you will not find that in the seller finance space, and even if you do, there will be virtually no discount.
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22 January 2025 | 203 replies
There is no reason to own property, no reason to ever cook for yourself, no reason to own a car, and no reason to ever be bored.