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4 February 2025 | 7 replies
I'm sure they're getting something out of it and I've asked tenants if they indicated they wanted to pay by credit card just to see where this is coming from.
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27 January 2025 | 7 replies
Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option.
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14 January 2025 | 9 replies
Unless the medical condition meets the state criteria for early termination and that the medical notice does not appear to suggest that, you cannot terminate the lease outright/immediately but that you will begin to market the property for rental and upon securing an acceptable tenant, the lease can be terminated pending a satisfactory property walkthrough indicating no damages.
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23 January 2025 | 2 replies
Hello everyone,I'm new to this group and would love to hear your thoughts on the pros and cons of purchasing a corporate or bank-owned home. What should I keep in mind to ensure I'm approaching it the right way?Thank ...
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16 January 2025 | 15 replies
This method provides an indication of value based on the property's rents.
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17 January 2025 | 19 replies
The failure to fulfill basic employment obligations, coupled with wrongful terminations, indicate a lack of integrity and professionalism within the program.
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5 February 2025 | 21 replies
It makes sense for house mates, spouses etc. to be Additional Insured on a renter's Insurance policy if they also live there and keep their stuff there (although I think anyone on the lease is typically covered anyway).
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24 January 2025 | 36 replies
This implies the return has to be via cash flow but you indicate with your numbers it is pretty close to break even.
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29 January 2025 | 0 replies
The housing market never ceases to surprise us. December marked a big moment: for the first time since mid-2022, home prices increased year-over-year in all 50 of the largest U.S. metro areas. Yep, every single one.
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17 January 2025 | 20 replies
When I was 22, I did a house hack, and I highly recommend it.