Derrick Thomas
How to Find a Good Agent
28 June 2017 | 3 replies
Not to brag (well, maybe a little), I was able to get the seller to cover all closing costs - which, with prepaid taxes and insurance came to $16,000.
Erron Fayson
Very first off attempt Please Help me analyze this deal
10 February 2019 | 5 replies
You can include all of your cash-out refinance cost (and prepaid) in your mortgage (If ARV supports).
Account Closed
Atlanta, Georgia 2 BRRRRs in 41 days (original post got deleted)
31 July 2019 | 3 replies
PROPERTY SUMMARY Property Florida Heights, Atlanta Westview, Atlanta B/BA 4/2 3/1 Sq Ft 1,980 1,135 Built 2005 1948 Asking Price $ 99,000 $ 99,000 Source Local Wholesaler Local Wholesaler Occupancy Tenanted Tenanted Current Rent $1,030 $865 DUE DILIGENCE Exit Strategy: Buy & Hold Pro-Forma ARV (as-is) $145,000 $140,000 Pro-Forma Rent $1,400 $1,200 Rehab for Buy & Hold $15,000 $10,000 Exit Strategy: Flip Pro-Forma ARV (Flip) $210,000 $390,000 Rehab for Buy & Hold $50,000 140,000CASH CLOSE Closed within 30 Days 10 Days Close Date 1/11/2019 1/11/2019 Contract Price* $ 98,000 $ 99,000 Adjustments (Taxs, Pro-rated rent and deposits )* $ (1,416) $ (1,201) Closing Cost* $ 1,005 $ 1,369 Adjusted Purchase Price* $ 97,589 $ 99,168 * Per HUD StatementREHAB PRIOR TO APPRAISAL Handyman $2,230 $6,025 Gutter $250 $1,150 Appraisal $695 $695 Plumbing $0 750 Cleaning 0 125 Total Rehab Cost $3,175 $8,745 MORTGAGE Loan Product Delayed Financing Rate/Term Loan Closing date 2/21/2019 2/21/2019 Appraised for $ 156,200 $ 150,500 LTV 67% 71% Rate 5.75 6.12 Term 30 years 30 years Closing cost and Prepaid (Financed ) $ 8,502 7500 Loan Proceed $ 96,500 $ 100,088 Rent Collected during mortgage free months $ 2,060 $ 1,730 Total Cash Spent $ (100,764) $ (107,913) Cash Stuck in the Deal $ (2,204) $ (6,095)Pictures of the properties: BRRRR Analyzer we use: (2 of 9 tabs)
Ilena P.
Pre-Paid Legal
14 September 2009 | 4 replies
I've heard some investors at REI club meetings say Pre-Paid Legal services are great.
NA N.
Provider "forgot" to charge her for 4 yrs. Can she be sent to collection?
16 February 2014 | 27 replies
The contract was for 1yr and it was prepaid up front, but it states that after the year it goes month to month.My take on this is that if she didn't pay a dime after the year passed and converted to the month to month, then that means that she didn't renew the contract and is off the hook.
Jay C.
Understanding Closing Costs on a Refi
20 October 2020 | 4 replies
Prepaids has a property taxes of 6 mos = $1,1516.84, but the G.
Tony Freeman
Why Security Deposits In Chicago Are A NO NO!
16 September 2022 | 21 replies
A landlord must pay interest each year on security deposits and prepaid rent held more than six months.
Tom D.
Unfair Rate Hike
15 December 2009 | 2 replies
I can afford the bill, but it's ridiculous: the coverage is for more than double the rebuild cost, I can't shop around because I've already pre-paid, and the bill is retroactive to the closing date.
Nick G.
Cash out LTV on primary in NY
21 March 2015 | 3 replies
The new loan amount can be no more than the actual documented amount of the borrower's initial investment in purchasing the property plus the financing of closing costs, prepaid fees, and points on the new mortgage loan (subject to the maximum LTV/CLTV/HCLTV ratios for the cash-out transaction based on the current appraised value).
Paul C.
Pre-Lease Office Space before purchase?
13 July 2020 | 3 replies
Pre-leases are possible, but generally are either done by very sophisticated owners and tenants or between parties that know each other.While there is no prohibition against using pre paid lease amounts for your down payment in commercial deals, any deposits may be strickly regulated by you state.