12 November 2020 | 11 replies
After you have one property under your belt I’d imagine the subsequent ones would be a little easier as you’ll be able to leverage the relationships you formed doing the first deal.
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19 August 2022 | 49 replies
Unless the previous borrower requests a release of liability, the servicer must process the following exempt transactions without reviewing or approving the terms of the transfer:a limited liability company (LLC), provided thatthe mortgage loan was purchased or securitized by Fannie Mae on or after June 1, 2016, andthe 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).The servicer must notify the borrower that a property transferred to an LLC must be transferred back to a natural person prior to any subsequent refinance application in order to meet Fannie Mae’s Selling Guide underwriting requirements.FREDDIE MAC TRANSFERSHere is Freddie Mac lookup tool: https://loanlookup.freddiemac....https://guide.freddiemac.com/a...
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14 December 2019 | 4 replies
This will then expose the Due On Sale clause if there's a subsequent change of ownership to the legal entity.
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22 January 2024 | 8 replies
I have it stipulated in the lease that if someone fails to pay and subsequently move in they’d be forfeiting their security deposit.
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5 March 2021 | 65 replies
Many of our commercial tenants just gave up & moved on, in fact one subsequently lost over $200k & his home on a couple of subway franchises.
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15 October 2023 | 8 replies
If a property owner chooses to use self management or participates in construction management the year bonus depreciation is used, that does not mean the property owner can t switch to passive investor status in subsequent years.Using Section 179 expensing and cost segregation remains as one of the best tax reduction strategies involving RE and STVRs in particular.
12 May 2022 | 9 replies
Subsequent to closing escrow, one of the units caught fire and in the process of the fire investigation, it was discovered that there was in fact asbestos behind the drywall.
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5 January 2024 | 10 replies
Furthermore, while we initially accommodated the guest's request to change the reservation from December 31st - January 5th to January 2nd - January 7th, they subsequently canceled their arrival on January 2nd on January 5th and requested another modification due to a flight cancellation caused by the earthquake in Japan.
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15 May 2022 | 5 replies
Subsequent to closing escrow, one of the units caught fire and in the process of the fire investigation, it was discovered that there was in fact asbestos behind the drywall.
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22 January 2019 | 12 replies
Make sure you get Enterprise, Premier or Accountant version as you will be able to view accurate Balance Sheet by Class.