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20 December 2020 | 3 replies
I am in the process of considering property management software and wanting to hear from others how they got a good majority of their tenants to switch to paying rent online instead of writing checks.As we have rental offices at our properties, most tenants just drop off handwritten checks there (we even have a mail-slot for after hours), so there isn't that much work involved.
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8 November 2020 | 3 replies
But -- there may be structural planning opportunity there if they are C Corps.At a high level, you're creating a lot of nexus and potential filing obligations by buying each new property in a new US state.Your situation is complicated enough to warrant long-term, professional advisors.You'll need to consider not only your US income tax exposure and obligations, along with which tax elections and tax entity structuring is most favorable, but also your US estate tax exposure and your tax obligations in your resident country relating to the US situs assets and income.
12 November 2020 | 6 replies
That is unless you make enough cash flow to hire someone to empty those coin slots.
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3 March 2021 | 10 replies
Once you get 10 on the books, then roll the majority of those to a commercial blanket loan, and open up your 10 Fannie Mae slots again.
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4 March 2021 | 4 replies
I'm guess the upside is vacant slots infill, and about half your expenses were labor (guessing that's the owners take).
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5 March 2021 | 13 replies
You can each have up to 10 loans, so if there are 4 of you, you could have potentially 40 properties collectively before being out of Fannie Mae slots.
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3 March 2021 | 1 reply
So rather than buying 10 properties together, you can each buy 10 properties for a total of 20 properties.At that point you roll most of your properties into a commercial blanket loan, that thereby frees up your 10 conventional slots again, so you can buy another 10 at the best terms.
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5 March 2021 | 9 replies
I have a STR by a hospital and every slot gets filled.
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9 March 2021 | 3 replies
Once you have hit your 10 limit, you would then move on to either Non-QM / portfolio loans, or you refinance most of your properties into a commercial blanket loan, thereby freeing up your Fannie Mae / Freddie Mac slots for a new round of 10 loans.The caveat is that when you do the Non-QM / portfolio or the commercial blanket loans, that you are not required to have a personal guarantee on those loans, otherwise if they require a personal guarantee, then the still count in the 10 financed property rule.
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27 January 2021 | 2 replies
Since the property is owner-occupied I plan to set up an open house over the weekend where a handful of investors can view the property in certain time slots.