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14 November 2024 | 8 replies
I don't have language in my contract about shortening stays, but you could.
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22 November 2024 | 7 replies
He is so ADD I dont know if he really paid attention.2) You can create some training guides I did this for our tenants and I have done some so far for whoever takes my place :) I have uploaded 30 videos haha3) This is actually #1 - figure out more efficient ways to do things!
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19 November 2024 | 3 replies
How long do your tenant's stay on average?
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21 November 2024 | 10 replies
Thanks for any help’ Yes we're licensed there and FHA guides in one state apply to all states unless a state has a specific law that supercedes the FHA lending guideline.FHA is always 3.5% down minimum (in some cases less because you're using a DPA or down payment assistance program or 2nd lender to put down over all a lower down payment than 3.5%, Aka for instance 3.5% DPA + 96.5% FHA = 100% financing but just dont kid yourself this is fully 100% leverage and to be used with caution and carefully).In the case of 2-4 unit FHA is still 3.5% down payment @Matthew Kwan @Carlos ValenciaThere are rules regarding FHA such as:- primary residence - you must occupy one of the 2-4 unit property as your primary over 50% of the year and the underwriter needs to believe you will remain and have the ability to live in there, any deviation from this and you'll get a whole laundry list of conditions asking you to prove why you should be believed to be living or will live there (if this arises dont be surprised, it just means the UW doesnt believe you).- SS rule - self sufficiency rule - gross rents of all potential units 2-4 X gross rents at 75% needs to meet 1:1 or 100% of the monthly PITIA payment or greater.
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25 November 2024 | 23 replies
For my business, outsourcing helped me stay focused on client relationships instead of being bogged down by admin tasks.
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20 November 2024 | 15 replies
@Ricky Hernandez As a Realtor with extensive experience, I typically guide buyers through the process.
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19 November 2024 | 7 replies
@Brandon StainesOption 1: do nothing you stay on mortgage and good is you still own 50% of house but bad is if she defaults then it hurts your credit tooOption 2: have her buy you out but that would require a new mortgage at a much higher rateNot much else you can do.
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19 November 2024 | 6 replies
Quote from @Sarah Rosko: We manage several medium-term rentals as well and typically operate with a 30-day minimum stay.
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21 November 2024 | 8 replies
Stay liquid and build cash.The holds that will allow you to retire and put your kids through school are def not these first two.I price out hundreds of DSCR loans every year.
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27 November 2024 | 48 replies
It is your property and the buck still stops with you, but for the most part you’re responsible for managing the manager & making sure all interests stay aligned.