John Humphries
Where do you put your reserves?
9 September 2017 | 8 replies
@John Humphries I wish I could tell you about some nice, fancy, financial instrument but it's just in a savings account.
Levi T.
Towing Tenant Vehicles When Rent Is Late
21 September 2017 | 123 replies
Example: Lease says -'Tenant agrees that upon non-payment Landlord may self-evict Tenant after 10 days' - Tenant agreed, Landlord agreed, a there's even a written instrument ---- Self-eviction still NOT legal if Tenant protests; because your Lease can not supersede the law and that law is interpreted by a judge and that judge may actually find you, the Landlord, as trying to circumvent the law and there may be real repercussions from doing so.
Account Closed
Sprout Financial Unsecured Line of Credit
24 September 2017 | 16 replies
There are no instruments that will give you a monthly payment that's 2% of the balance divided by 12.
Burt L.
Attorney Says Seller Cant Sell - Unreleased Deed & Mort Co Gone!
19 September 2017 | 8 replies
In the end, my attorney located someone at the original mortgage company who agreed to sign an instrument stating that no monies were owed but the original note was long gone.
Eugene Carelli
Buying under personal names or LLC?
21 November 2018 | 7 replies
Since we have quiet a few attorneys on this thread,re due on sale clause , what are the attorneys opinions re the change in the "due on sale " clause based on the changes in fannie mae guidelines from Nov 2017, and proceeding with the samehttps://www.fanniemae.com/content/guide/svc110817....Section D1-4.1, Information Relating to Transfers of Ownership Applicable to All Mortgage LoansD1-4.1-01, Determining Whether a Transfer of Ownership Is Permitted (11/12/2014)[...]D1-4.1-02, Allowable Exemptions Due to the Type of TransferA transfer of the property [...] to [...] a limited liability company (LLC), provided that: the mortgage loan was purchased or scuritized by Fannie Mae on or after June 1, 2016, and the LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence).ThanksP.S thanks to Chris Mason who posted this on this threadhttps://www.biggerpockets.com/forums/49/topics/610...
Scott Webber
Protecting Housing LLC's in Prenup from Divorce
13 November 2018 | 2 replies
Notwithstanding the foregoing, if the value of Scott’s interest in any of the LLC interests listed on Exhibit B increases as a result of his active efforts, the appreciation of such assets shall be deemed Marital Propertya) Active shall be defined as exclusively engaging in gainful self-employment working toward the growth of his LLC interests listed on Exhibit B, successor LLC’s, spinoff LLC’s, or any other LLC or gainful acquisition made using premarital funds, mortgages, or other financial instruments to fund growth.
Jeremy A.
fair market rent on 1st comm spaces
28 November 2018 | 5 replies
For success, any expenses that will be covered out of your pocket, must be re-couped from the tenant's rent over the year.
Naimah Lewis
Should I Take a Heloc on Primary Resident To Get Started In Real
19 November 2018 | 4 replies
So you can use the HELOC as a short term instrument and then refinance it out but make sure you can get the leverage you want.
Sydney Tiffany
Useful Real Estate Vocabulary for Beginners
24 April 2019 | 2 replies
It is the index which moves up and down.maturityThe date on which the principal balance of a loan, bond, or other financial instrument becomes due and payable. merged credit reportA credit report which reports the raw data pulled from two or more of the major credit repositories.
Frank Wolter
Out of State investors getting ripped off, heed these warnings!
25 October 2018 | 55 replies
I have done that model and seen that model over the years.. one guys in INdy called Holdfolio did thisnot sure how it performed but chose the rights assets and proper management and that works.there was a guy in Ohio also that called him self MR> triple net.. he sold you a home then rented it back from you for a set fee then he leased it out in a master lease situation were he took care of everything.my model I used a debt instrument equity share model that basically worked like what your talking about but had a pref return no matter what was happening with the asset.. that put big onus on operator to perform..