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29 March 2020 | 5 replies
It is conceivable that the demand and supply could flip such that when Cities are open for business and begin issuing permits, there will be an over abundance of contractors and skilled labor, but no appetite or demand to spend money for renovation projects because of the projected high unemployment and stock portfolios that are worth a fraction of what they once were.
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30 March 2020 | 134 replies
My point is the appetite for gambling and entertainment will be there after this.
13 April 2020 | 13 replies
@Le TrinhYou should consult a real estate attny IF you believe the information is correct. 8 months to finish a basement, even with those issues is excessive.
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15 May 2020 | 30 replies
This will limit the banks appetite to lend you more money.
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27 December 2020 | 37 replies
What I do not see happening in the short term is appreciation far in excess of inflation.
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12 April 2020 | 8 replies
Understand Dodd Frank when applying credits and lease options; Lease purchase agreements can be a way for sellers to find a buyer, acquiring both a buyer commitment for the future as well as rental income now, to defray monthly obligations; A seller's offer of lease purchase can also attract a buyer who wants the property but needs a little additional time to complete loan qualification and does not want to or cannot make an immediate down payment; terms of payment in a lease purchase should conform to local rental data for comparable homes; the amount paid monthly to be set aside for down payment of closing costs should be in excess of the going rental rate; if not, the lender arranging the mortgage at lease end may not accept the set aside funds; instead, the lender will disqualify the funds by declaring them a "gift" from the seller to the buyer; lease purchase documents should be drawn up with legal counsel to address eventualities such as the buyer not qualifying to purchase at lease end or a market value decline impacting the agreed purchase price and lender's terms. 8.Selling to Relatives - Selling to relatives can be a good option if the seller is having trouble moving the property or if they desire to keep the property in the family; if the property is owned outright, there are few challenges, but if a conventional loan is needed to complete the deal, it can get tricky; creating conditions where a lender is convinced that this is an "arm's length transaction" may be challenging.
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19 July 2020 | 13 replies
Under this provision, a tenant must to notify the landlord that they have lost a job, lost hours, or otherwise lost revenue or faced significant increased expenses as a result of the COVID-19 pandemic.If a tenant has a paid security deposit of more than one month’s rent, the tenant can apply all or part of that excess to April, May, or June rent.
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23 April 2020 | 18 replies
Every lender won't have an appetite for what you are doing, so talk to as many as you can.
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1 May 2020 | 14 replies
I got lucky on this one, my next steps could have been:` Find out how excess funds collected at foreclosure auction were distributed (they rightfully should have gone to clear liens, usually junior ones, and any excees funds go to the previous homeowner) in Missouri.` File for "quiet title" and it may or may not have worked.` Pay the lien off, and lose a ton of money.
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15 April 2020 | 2 replies
I would like to learn about three types of scenarios that would seem to be of great benefit to a LL/PM if a tenant held renters insurance;Situation A (property damage): Tenant causes damage to LL property in excess of security deposit.