Chris Magistrado
Buyer wants to do an Inspection?
23 January 2025 | 24 replies
Here are some indicators to help you assess a buyer's seriousness:Questions: Serious buyers will ask detailed questions about the property, such as maintenance costs, neighborhood amenities, and property taxesStrong Offer: If a buyer makes a strong offer quickly, it often indicates a high level of interest and intent to purchasePrivate Buyers: If approached by a private buyer, ensure they provide a Letter of Intent (LOI) and proof of funds.
Jonathan Glumac
Disclosing Sales Agent and Brokerage to MF Development Employer
20 January 2025 | 3 replies
The intent of getting a sales agent license is to educate myself in Real Estate and create some additional income.If your relationship is such that you need to hide your license, you’d be better off with a different working relationship.
Ilia Zakharav
Convert 6 unit multifamily into condos, 1031 after
9 January 2025 | 2 replies
You want to be able to demonstrate that your intent in purchasing, subdividing, and improving was to hold for investment use.
Jeffrey Bourque
Found a Deal but Not Sure
26 January 2025 | 3 replies
Quote from @Jeffrey Bourque: Hello All, I am new and this is my first attempt at purchasing a property with the intent to create monthly cash flow.The property: Triplex Listed at $140,000 - Total monthly rent income $2,150 - Tenants want to stay and are all willing to sign new leases for 3 years - 8 beds 5 baths and 3,500sqft livable space on a 4,800sqft lot - Heat and electric paid by tenants and water trash paid by owner $180 month - I have managed to talk the selling price down to $105,000 with a kick of $10,000 for closing and commissions so $115,000 all in - Building is in fairly good shape according to pictures and questions but have not done a inspection yet - some general maintenance repairs are needed according to the seller but nothing that seems to bother the tenants. - Taxes are on the higher side at $6,000 yearMy Numbers: $115,000 putting 20% of my money $23,000 and finance the rest with total expense of $1,834Monthly expense numbers: Future Maintenance 13% $273 - Vacancy 5% $105 - Property Insurance 5% $105 - Property Taxes 23% $500 - Property management 10% $215 - Office/Travel/Legal 4% $84 - Mortgage 26% $552 - Monthly Cash Flow - $316 per month or $3,792 per year so Cash on Cash = 17%I think this looks like it is a deal worth doing and I also believe I can bump the total rent up by $50 each tenant which I think make it even better.
Mike Silva
Recessed Lighting with Horse Hair Plaster
14 January 2025 | 2 replies
I ended up closing on a duplex house this week with the intent to rehab the whole place.
Ken M.
So, What's the Difference : Assumption vs SubTo (Subject To)
23 January 2025 | 1 reply
At it's basic level:Assumption: Asking the bank to turn the loan over to you and going through the normal underwriting process, credit, income, DTI ratio etc SubTo: Taking over the loan without telling the bank, no underwriting, no credit check, no income verificationBoth have risks, but it's not my intent to be detailed in this post.
Laura Kreinbring
Which form or notice should I use to end lease with tenant
26 January 2025 | 14 replies
I know it seems like this older lady has an intent to intimidate me, but hopefully she is just behaving this way because her mind is slipping later in life.
Andrea W.
Latest Financial News
17 January 2025 | 1 reply
There's also discussion of intentional inflation, but is there any impact on real estate prices at all?
Alex Bockey
AirBnB; what's better, condo or house?
27 December 2024 | 8 replies
"I actually think renting a place will get me started"If you are talking about being a tenant yourself and operating a airbnb in your rental apartment don't hold your breath.
Dylan Gomez
Inherited a property and remodeled it now its ready to sell
26 January 2025 | 7 replies
But you are absolutely demonstrating your intent to hold for productive investment use.