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16 November 2024 | 3 replies
I know for a fact that Chase has an internal condo approval process for all loans being sold/brokered to them. https://selling-guide.fanniemae.com/sel/b7-3-03/master-prope...For FHA, the guidelines are FHA 4000.1.Also, this: https://www.hud.gov/press/press_releases_media_advisories/hu...Long story short, condos are becoming increasingly difficult to finance.
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16 November 2024 | 6 replies
Please clarify, is this a long term or short term rental?
14 November 2024 | 5 replies
Ski Leases: Looking at the short term rental policies it does not cover leases longer than 30 days, seeing as there is a market for this type of rental what are peoples experience with this for ~4 month terms, and has it worked for summer leases as well.?
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15 November 2024 | 1 reply
Seems like short notice.
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13 November 2024 | 8 replies
I have some short-term rentals, and occasionally, a few of these have turned into mid-term rentals when rented out for several months.
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15 November 2024 | 2 replies
Short term, assuming the real estate lobby doesn't sue this to keep delaying/appealing, once it goes into effect there will be no more broker fees paid by tenant *unless they hire the broker*Some long term effects I can predict already: - Landlords now having to absorb broker fees will bake this into the rent (e.g. how "no fee" units typically are priced a little higher than other units) - Real estate board will require another document (or checkbox) for tenants to sign stating that they're hiring the listing broker and responsible for compensating them for their fee *if* they apply and are approved- Regular New Yorkers will have an even harder time to find an apartment because you cannot legislate/regulate away a housing crises...
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15 November 2024 | 8 replies
I've lived through rehabs, flips, short sales and made lots of money on buying and selling real estate.
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14 November 2024 | 3 replies
That being said, here’s what I would recommend for a thorough DD process:-Build a plan in advance (setup a spreadsheet, meet with the team, etc)-be prepared to take a lot of pictures -document notes with each room (we use notes on Apple and share it with the team)-align the team on standardizing information (example: what does “bad” mean, what does “okay” mean, etc - everyone looks at things differently and you want to make sure the notes are accurate during your debrief)-bring in professionals for things you can see, like sewer lines hope this short list helps!
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14 November 2024 | 8 replies
I think I’m more focused on long term gain, some short term cash flow is nice but I’m not planning to try and live on it or anything.