26 August 2024 | 5 replies
I'll be making two changes on future leases as a result of this - increasing security deposits; and making rent due by the 1st (current grace period is through the 5th).http://lawfilesext.leg.wa.gov/biennium/2019-20/Pdf...

26 August 2024 | 3 replies
You asked about a property you have listed for sale and property taxes that are coming due and the consequences of not paying them until the property sells.Generally, the local taxing authority will impose an interest penalty on any unpaid balance after the due date with a long grace period before you would have to worry about unpaid property taxes affecting your ownership of the property or your ability to sell.In all likelihood, the property taxes will become a part of the closing and will be deducted from your proceeds at the time of sale.By the way, property taxes are always in first lien position ahead of any other debts like mortgages.

28 August 2024 | 10 replies
Check the rental laws in the state to determine the notice period.

27 August 2024 | 9 replies
(I never gave EMD as the listing agent didn't demand it)A wholesaler that I know did a JV with me and brought in an end buyer, (I have a fully-executed assignment agreement stating non-refundable EMD due, etc)However the end buyer didn't deposit and wanted to walk away, this is after the inspection period ended.Title agent says the end buyer is the one on the hook for the EMD, but if he's not responding to them and doesn't forfeit the EMD, does it somehow fall back on me?

27 August 2024 | 11 replies
Philly requires a period of 30-day "eviction diversion" program phase.

22 August 2024 | 1 reply
This means that to benefit from the separation between my personal assets and the company’s assets, I need to establish the LLC in New York State.However, I’ve found that the start-up costs and procedures for opening an LLC in New York State are significantly higher and more complex compared to other states (such as the requirement to advertise in several newspapers for an extended period).

27 August 2024 | 18 replies
Using this example, the legal name on the online EIN application would look like this: 123 MAIN ST LLC a series of MY CRE HOLDINGS CO a Texas series LLCNotice that, like before, I’ve omitted the commas and periods (what the IRS calls “special characters” and prohibits in the online application).

25 August 2024 | 10 replies
The auction just happened and within the 10 day period after the auction.
26 August 2024 | 17 replies
Time value of money they could invest that $160k somewhere else and earn $50k+ on it over that period vs losing $96k.
26 August 2024 | 13 replies
This happens periodically and could end up with you either accepting the same sub par returns on your REITS as your rental portfolio.