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10 September 2017 | 3 replies
How should I go about verifying the legitamecy of the service animals?
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17 September 2017 | 20 replies
I was starting to think that I was crunching my numbers incorrectly but you are verifying my thoughts.
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21 September 2017 | 123 replies
But before I play "repo man" i'd do the following: Know my State's Repo Laws....If needed consult with a lawyer.Make sure the Debtor Is in Default ....Have all the paperwork in order.Locate and Verify the Car.Choose the Method to Repossess ....Contract with a tow company rather than taking the risk of rolling up in a U-haul pickup and snatching someone's ride!!!
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14 September 2017 | 6 replies
VERIFY everything!!
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13 September 2017 | 11 replies
I'm obligated to have the duplex as my primary resident for 12 months, although from my understanding the only way to verify that would be the mail continuing to be mailed to that address.
2 October 2017 | 12 replies
At this time they will ask if you have funds with you and they will verify them.
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15 December 2019 | 13 replies
If you really need this candidate, I would verify everything with my own research.
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12 September 2017 | 2 replies
disclosure laws vary by state and if a private sale or thru Realtors The buyer is generally supposed to verify information
12 September 2017 | 4 replies
Here are the key data points:Park info Located in Alabama61 lots25 owner occupied homes18 park owned homes (14 currently rented; 4 currently being repaired and should be rented soon)18 vacant lotsAvg lot rent - $160 (unknown what the market rate is but it doesn't sound like there has been a rent increase in at least a year, maybe more)Avg POH rent - $400Expense ratio - seller claims 26% but I'm estimating 35% for the lots and 50% for the POH'sCity water - individually meteredSeptic - good condition (allegedly); a couple were pumped last year, none this year (no lagoon thank heavens)Seller claims gross income $130k, expenses $30k, and NOI $100kI calculated gross income of ~$135k, expenses of $60k (55% on POH and 35% on lot rentals), and NOI of $75kOther infoMom & pop seller, but park is listed with a brokerPark has been on the market for > 3 years (recent price reduction)Greater metro area stats look goodPopulation = 115kMedian home price = $105kUnemployment < 8%Household income > $40kHousing vacancy ~ 15%Closest Walmart is 7 miles awayFreeway is 1.5 miles awayNumbersMy valuation is coming out about $80k-$100k under the seller's asking priceWith conventional financing I'd be hoping for a purchase price of $500k, $100k down @ 6% over 20 years (not sure if this is plausible or not)Assuming that financing, I'm expecting net cash flow of $40k (after debt service)Upside potential is in raising rent and filling the 18 vacant lotsFollowing the same assumptions above, raising rent $50 (if the market supports it) would change NOI to ~$90k and net cash flow of just over $50kFilling the vacant lots could potentially increase gross rent up to somewhere between $150k-$200k, depending on what the appropriate occupancy rate is for the areaWithout verifying any of the above information (haven't offered anything yet so there's a lot of DD left to do), the deal seems to make sense.
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12 September 2017 | 1 reply
If someone comes to me, I'll send them your way.If you need help in your search or want to verify something don't hesitate to ask.For example: I have clients worldwide and things are just as easy as I e-mail them, talking on the phone.