Saravanan Raju
HomeReady - Refinancing (New Jersey)
21 March 2020 | 0 replies
I am reconstructing my home(knocked down and rebuild) which already has a fha mortgage of 375K.
Lance Lvovsky
Business Summary of Coronavirus Relief
4 April 2020 | 1 reply
Maybe you are an attorney, engineer, doctor, surgeon, etc.
Derek Anaeme
Cost to Convert a Garage Into a room
30 March 2020 | 3 replies
What would be the most expensive part of the reconstruction?
Greg Moore
Please join me in roasting crappy Appraisers!
8 February 2021 | 88 replies
Just imagine if surgeons got it right as often as weather forecasts
Brian Driscoll
Telecommuting Impact on Real Estate
8 April 2020 | 13 replies
I’m sure everyone here has the Uber story about the surgeon from _____ that was driving because her credentials didn’t transfer?
Adam Saball
Delayed Introduction - Massachusetts REI
3 March 2020 | 11 replies
My focus is on buying/holding 2-3 unit multi-family buildings in old New England mill towns that need minor or cosmetic repairs but not major reconstruction.
David Nacco
Mobile Home Park Investors, Where do I Start?!
2 April 2020 | 7 replies
The “key” elements of the transaction are explored first and usually, the most intensively.The buyer should provide the seller a comprehensive disclosure statement and include a term in the purchase agreement that obligates the seller to return the document within 5 days of acceptance.Professionals are hired to complete Phase 1, 2 & 3 reports that identify potential or existing environmental contamination and all other elements of elements that are difficult for the buyer to effectively evaluate.Financial Checklist3 years profit & loss statementsRent roll with space number, name of resident, move-in date, renter or owner occupied, number of occupants, monthly rent, additional charges, current balance due and any relevant notes about the residentList of capital expenditures for the last 3 years3 years of tax returns12 months of bank statementsCurrent accounts receivable statementList of park owned home including copies of “rent to own” or sales contractsCopy of all current insurance policies, binders and premiumsSpreadsheet detailing who pays all utilities including water, sewer, gas, electric, trash, cable, etc…For all utilities and charge backs, formulas, calculations and meter readings for the past 12 months3 years of utility billsProperty tax bills for the last 2-3 yearsCurrent staffing list including position, wages, job descriptionsCopies of any contracts that will transfer to buyer including laundry, trash, phone, equipment, etc…Dates and amounts of the last 3 rent increasesSigned rules and leases for each residentNames and contact information of professional service providers including lawyers, accountants, engineers, insurance brokers, inspectors, appraisers, realtors/brokers, etc…Physical ChecklistSpreadsheet for utilities that details age, composition, capacity, physical locations, etc…Any drawings or maps of the park and infrastructure including lot sizesSewer plant or septic system repair and maintenance recordsWater well tests and compliance recordsDisclosure from seller of current or recent problems with infrastructure including buildings, water, sewer/septic, gas, electric, etc…Names and contact information of contractors including plumbers, tree surgeons, electricians, gas inspectors, septic companies, roto-rooter services, etc…Locale ChecklistProfile local housing market:“Stick-built” – current foreclosure rate, months of available inventory, median home price, average rent per month, vacancy rateApartments – average rent per month, vacancy rate, prevalence of move-in specials…MHPs Comps – average monthly charges (rent, utilities, etc…), vacancy rate, # of homes for sale, etc…Profile local economy including population, major employers, unemployment rate and trendsCopies of city, county and state permits, licenses or certificates of occupancyCheck zoning for recent or pending changes to target property and adjacent parcelsCheck for known environmental issues with target property, adjacent parcels or in the communityCheck for major development or construction projects in the communityReview existing surveys or environmental reportsConsider geographic factors including elevation, annual snow fall, rain fall, proximity to bodies of water, etc…Disclosure from seller of current or recent lawsuits, regulatory or compliance issues, fines, fees, etc…
David V.
Rental Income & Social Security
9 June 2020 | 10 replies
However, you can count your spouse's participation in an activity in determining if you materially participated.Real property trades or businesses.A real property trade or business is a trade or business that does any of the following with real property.Develops or redevelops it.Constructs or reconstructs it.Acquires it.Converts it.Rents or leases it.Operates or manages it.Brokers it.https://www.irs.gov/publications/p925#en_US_2019_publink1000104591
Kelly McMillan
Foundation repair/contractor referral for Durham NC?
10 June 2020 | 5 replies
Hey @Kelly McMillan I had good success on some pretty serious foundation issues on a project in Durham and had good success with Triangle Reconstruction.
Kevin McCafferty
116 Bridge Street, Salem MA
29 April 2020 | 1 reply
Reconstructed the yard and parking.