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16 July 2024 | 15 replies
While not ideal, when weighing the additional costs and time of foreclosure, against the likelihood of recovery from the PG, we determined it was more likely we’d save expenses than we’d be able to collect on the PG.
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14 July 2024 | 13 replies
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.
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14 July 2024 | 5 replies
Future Rights: It is common for leases to either:Cover existing tenants and equipment: This means the lease covers only the equipment and tenants on the tower at the time of the sale.Include provisions for future tenants: Some agreements might allow for new tenants and equipment to be added, potentially impacting the compensation.Lump Sum Payments: When a lease is sold for a lump sum, it often includes a transfer of the right to collect future rents from existing tenants.
15 July 2024 | 17 replies
Hi all,I wanted to pick the community's collective brain on investing in an IRA and get people's experiences on it.1.
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16 July 2024 | 33 replies
We had a few where we had to wait until rent assistance kicked in (and don't get me started people driving a Porsche and collecting rent assistance), but in the end we were whole.
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13 July 2024 | 13 replies
Few and far between.You can always find someone willing to collect rent for a fee.
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14 July 2024 | 11 replies
I would never do that / why not broker the loan and collect a fee upfront.This is also super sketchy as no legitimate hard money lender would lend to someone who is going to lend the $ and not own the property
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13 July 2024 | 24 replies
Fair Debt Collection Practices Act (FDCPA): This law applies when a debt collector contacts a borrower on behalf of the bank.
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12 July 2024 | 19 replies
Could anyone please advise how I should start the eviction and collection process?
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13 July 2024 | 10 replies
This can easily result in a situation where some states never collect tax revenue and other states collect more than they deserve due to mis-allocation of passive losses.For NC, it doesn't appear that the state tax code addresses this situation."17 NCAC 06B .3904 TAXABLE INCOME OF NONRESIDENTS AND PART-YEAR RESIDENTS(a) Nonresidents and part-year residents shall prorate their adjusted gross income, adjusted as required under G.S.105-153.5 and G.S. 105-153.6, to determine the portion that is subject to North Carolina tax.""