David Lewis
Boston - Has the ship sailed?
23 January 2025 | 45 replies
Careful in the Stock Market, seems great on it's upward trajectory however...
Kenyatta Barthelemy
Starting out in New Orleans/ Baton Rouge
27 January 2025 | 21 replies
That's how you care for your friends and family.
Huong Luu
Keep or Sell?
18 January 2025 | 1 reply
The bank will make you leave 25% equity in the property - but you also still want the property to at least cash flow some - so be careful how much equity you pull out / new debt you take on.I would do a cost benefit analysis of what your actual gain is in cash-flow on buying a new property with a (currently) higher interest rate (if financing), versus just holding on to the current appreciated property and enjoying that cash flow.All the best!
Michael Poloncic
Tenant breaking their lease
9 January 2025 | 8 replies
You will want to consult with a lawyer.In regards to your last two questions here's some background on what makes a contract valid and enforceable:Offer: A promise to do or not do something within a certain time period Acceptance: A clear and direct statement that all terms and responsibilities are accepted Consideration: A legal and adequate inducement given in exchange for the promise Capacity: The parties to the contract must have the legal capacity and competency to contract Awareness: A party must be aware of the contract Legality: The contract must be legal in the jurisdiction it will be operating in***Not legal advice*** Steps I would take: -Review contract in detail to understand each counterparties responsibilities (if you are not aware)- Email a copy of the lease to each of the tenants listed on the lease and reiterate lease expectations for termination notice, rent payment etc. - If the lease was signed via Docusign (other esign may have same ability) - you can go to the envelope, go to history and view the IP addresses for each action taken.
John Friendas
LLC Mortgage Under Partner Instead of Me
23 January 2025 | 23 replies
If the above is true, the income will offset the debt in the DTI calculation, so who cares?
Torianne Baley
Letter of Intent with Loan Fee - Is this Legit
2 January 2025 | 19 replies
We don't get paid unless the loan closes.I would be careful with a lender that charges anything but third-party fees.
Karl Kauper
1031 Exchange Deadlines
24 January 2025 | 10 replies
I would be very careful in working with a 1031 Exchange Qualified Intermediary that provides ("sells"0 replacement property solutions as part of their services.
Steven Catudal
Increase in property taxes
4 January 2025 | 11 replies
Markets have increased considerably over the past 4 years and most of my buildings have also increased in value by about $300,000.
Enrique Toledo
Seller financing financial questions
27 January 2025 | 7 replies
However, you have to be extremely careful financing 100% of the transaction as you still need reserves, closing costs, etc. and make sure it cash flows.You didn't mention if this would be a rental or owner occupied.
Stefano Vrolijk
First investment property as a foreign citizen
12 January 2025 | 12 replies
If you’ve yet to build up substantial credit in the U.S. you can apply for foreign national specific loans that don’t take credit history into consideration when qualifying as in some circumstances you can get better rates and terms applying as a FN when your U.S. based credit history is in it’s infancy.