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17 January 2025 | 4 replies
Taxes and requirements should be much lower for a LTR
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12 January 2025 | 4 replies
@Jim G.Per the International Residential Code if the glazing is less then 60 inches vertically from a standing or walking surface then yes it’s required to be safety glass as it’s considered a hazardous area.
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14 February 2025 | 8 replies
These all require applicants to submit an acceptable Letter of Explanation addressing each specific issue and occurrence.Rental HistoryBecause a current landlord may say anything to get rid of a bad tenant out of desperation, we also require information for the previous landlord of all applicants…Analyze IncomeMany landlords require a month of paystubs from applicants and just use these to calculate a monthly qualifying income…Employment StabilityUnless an applicant has exceptional credit, we strive to determine their stability of employment…AssetsWe are one of the few management companies that requires a bank statement as part of our application process…Letter Of ExplanationAny time there are credit issues or we discover an inconsistency, we require a written letter of explanation (LOX)…UnderwritingTraditionally, landlords have only looked at the income of applicants…ApprovalOnce an applicant is approved, we require a nonrefundable Holding Fee to make sure they are serious…
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16 February 2025 | 7 replies
The hard money lenders I have been using required $100k min loan.Thank you!
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16 February 2025 | 0 replies
I am a licensed RE salesperson in New York, but I am wondering about the requirements to start a PM company.
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11 February 2025 | 4 replies
Freddie also requires that the borrower loan guarantors demonstrate prior multifamily experience.
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14 February 2025 | 19 replies
You can do a 1.0 DSCR but all that means is you do not have a good cash flow asset and you are just holding for appreciation only.The refinance portion will require another appraisal.
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12 February 2025 | 1 reply
It is NOT required by law to sign a buyer's agreement before you start touring homes.
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8 February 2025 | 12 replies
There are ways of buying a property to get around seasoning time requirements.
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8 January 2025 | 3 replies
These requirements are solid, keep them: Application: Everyone aged 18 or older must complete an application.