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8 July 2024 | 20 replies
However, the "statement of cash flows" report within QBO combines balance sheet accounts with data from the profit & loss to show cash flow (aka what happened to cash over the period).And, an easier way to allocate monthly loan/mortgage payments is to split the transactions directly from the QBO bank feed rather than create journal entries.
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5 July 2024 | 5 replies
I'm not an attorney so please consult one in your state to make your decisions.You could propose they master lease the property as a trial period BEFORE you agree to purchase terms which would transfer title.
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7 July 2024 | 10 replies
So, assuming the store front could remain empty for long periods of time without the mortgage being in jeopardy, where is the risk that would be keeping lenders away from it?
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7 July 2024 | 2 replies
You should line through the dollar amount so it reads like this:"...Tenant shall pay a late fee of $0 or 5% of the periodic rent."
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8 July 2024 | 21 replies
Also almost everything we bid on sells for cash and no option period.
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7 July 2024 | 14 replies
We had someone get a ticket and pulled the carts for the rentals, probably cost us between 5-10% of total revenue but it was more important for us to keep our carts than not have them for an extended period.$2 mm house or not you will have headaches with carts regardless and in our experience it's just not worth the hassle.my recommendation is work a deal with a local place you can refer them to and get a small referral fee from.
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7 July 2024 | 1 reply
With new law I feel there are flaws with our lease structure with the 30 day renewal period.
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8 July 2024 | 15 replies
The borowwer would have to tell you either thier period of service of thier beginning entitlement.
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7 July 2024 | 1 reply
The challenge that many borrowers run into when looking for larger equity lines with limits of $250k+ is that they typically require full income verification (not always bank statement and DSCR exist) with lower DTI ratios (43-50%) however although the repayment scheduled is based off a simple interest only payment, (usually a 30 year amortization schedule with the initial draw period of 5-10 years) the qualifying rate is based off of the converted twenty year amortization schedule (240 equal installments) of the payback period.
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9 July 2024 | 16 replies
I’ve had this happen in a similar market propped up by foreign investors and tourism (Costa Rica) and luckily was able to wait out the down turn but there can be long periods of time in this type of market where properties just aren’t selling at all even at a steep discount.