11 October 2024 | 27 replies
However, loans under $200k, it's closer to 3-4%, and loans under $125k, expect around 5%.Lenders typically have flat fees (UW, legal, etc).
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8 October 2024 | 8 replies
But the damage was done—I had already gone through three management companies, three evictions, and a lot of lost rent and legal fees.
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5 October 2024 | 0 replies
Here’s what a 'co-ownership consultation' would look like:- We review an active listing of your choice to:- Build a cost-of-co-ownership model for the property which includes:- Individual ownership and ongoing cost assumptions- Modeling potential rental income for short-term rentals- Modeling financial outcomes from various exit scenarios- Tax benefits and considerations of shared homeownership- Pros/cons of different ownership structures (joint tenancy, LLC, tenants in common, etc)- Talk through the legal agreements (I am not a lawyer and this is not legal advice but I do have extensive knowledge about TIC and other co-ownership agreements)- Briefly discuss some of the ways AI is making the work that goes into successfully managing a shared home easierIf you're interested, here's what I'm asking:- You’re a U.S. citizen or permanent resident interested in co-owning in the U.S.- You choose a property that’s actively listed and something you'd realistically be interested in co-owningShoot me a message if you're interested and open to 30ish minute chat.Thanks!
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5 October 2024 | 5 replies
Many landlords now use online platforms that integrate electronic signature capabilities to handle this legally and efficiently.
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4 October 2024 | 0 replies
I also have the landscape company, approved by the HOA (see #2), using drones to take pictures just in case I need additional backup for insurance.
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4 October 2024 | 1 reply
While this sounds like a win, the number of cases where it is feasible are few and far between. 1) There is an application and approval process required by the bank for the loan to be transferred.
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6 October 2024 | 15 replies
They were charging another homes repairs to my home and wasn’t caught until I threatened legal action.I reached out to the new person who was managing my property to inquire about a lease renewal for my tenants and make it clear I needed to increase the rent to cover expense increases on the house.
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2 October 2024 | 22 replies
Originally posted by @Mei Ling Schulz:If they have their real estate license then yes Please be very careful giving legal advice, especially when you are wrong.
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7 October 2024 | 7 replies
If it's not, you won't be able to legally rent out the unit and you'll be opening yourself up to huge liability if anything goes wrong.
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4 October 2024 | 27 replies
The good thing about househacking a legal multifamily unit is that lender allows you to use the vacated units of 75% market rent as an income to offset the potential current mortgage.