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19 July 2024 | 100 replies
I was just wondering if alisting agent would try to get me to sign a buyers agreement
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22 July 2024 | 19 replies
Since an executor/personal representative has not been appointed by the court and no Trust is in place, there is no one who can sign for the deceased.
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20 July 2024 | 1 reply
If we then have another meeting that we are pre signed up and have paid for which is on Wednesday, the expenses that my wife and I incur on Tuesday are deductible because it is considered a work day since it falls in between 2 separate days of meetings that are directly related to our business.
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20 July 2024 | 2 replies
Your offer to purchase should include a requirement that the Seller provide all documentation and agree to sign an estoppel certificate (also called an estoppel form or agreement).
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19 July 2024 | 1 reply
Market OverviewThe Los Angeles self-storage market showed signs of stabilization in Q1 2024 after experiencing some softening in 2023.
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19 July 2024 | 2 replies
You could write a simple statement and have all parties sign and date:"Landlord and Tenant agree to extend this lease with a new termination date of June 30, 2025."
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21 July 2024 | 12 replies
Ask about the maintenance history.Units: Visit as many individual units as possible to assess their condition and note any necessary repairs or updates.Structural Issues: Be vigilant about signs of water damage, mold, or pests, which could indicate larger problems.Safety Compliance: Verify that the property meets all local safety and building codes, including fire alarms, extinguishers, and emergency exits.Financial and Operational AspectsRent Roll: Request a detailed rent roll to understand current rents, lease terms, and tenant occupancy.Expenses: Get a breakdown of all operating expenses, including utilities, maintenance, insurance, property management fees, and taxes.Income Verification: Ask for historical income statements (preferably 12 months or more) to verify the revenue.Vacancy Rates: Inquire about the historical and current vacancy rates and how they compare to the market average.Tenant Profile: Understand the tenant mix, including residential versus commercial tenants, lease lengths, and tenant turnover rates.Property Management: Find out if the property is currently managed by a professional management company and if you will retain or replace them.Legal and ComplianceZoning Laws: Ensure the property complies with current zoning laws and inquire about any zoning changes that may affect the property.Rent Control: Determine if the property is subject to rent control or other regulations that could impact income.Permits and Licenses: Check that all necessary permits and licenses are up to date.Value-Add PotentialRenovation Opportunities: Identify areas where you could add value through renovations or upgrades.Rent Increases: Assess the potential for increasing rents based on market rates and property improvements.Additional Income: Explore opportunities for additional income streams, such as laundry facilities, parking fees, or storage rentals.Environmental ConsiderationsEnvironmental Hazards: Check for any environmental issues like asbestos, lead paint, or underground storage tanks.Flood Zones: Verify if the property is in a flood zone and the implications for insurance and risk.Questions to Ask the SellerReason for Selling: Understand the seller’s motivation to gauge the urgency and possible negotiation points.Recent Repairs and Improvements: Ask about any recent capital expenditures and future planned repairs.Tenant Relations: Inquire about the relationship with tenants and any ongoing disputes or issues.Due DiligenceProfessional Inspection: Hire a professional inspector to conduct a thorough examination of the property.Appraisal: Obtain an independent appraisal to verify the property’s market value.Legal Review: Have a real estate attorney review all contracts, leases, and legal documents related to the property.By covering these aspects, you’ll be in a stronger position to make an informed decision about your potential investment.
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20 July 2024 | 4 replies
From the same article:"When you closed your VA loan, you may have signed a VA Guaranteed Loan and Assumption Policy Rider.
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20 July 2024 | 5 replies
Some lenders won't allow it, but there are lenders that do. it is a business purpose loan - you'll need to sign a form stating that you won't be occupying the property and your rate may be slightly higher than if you were to close in an LLC.
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20 July 2024 | 12 replies
Did you sign u for his program to go down to Houston for the tax sale?