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29 January 2025 | 24 replies
So for the past three weeks they have been badgering the bank, going so far as to call the owner of the bank and every member between the underwriter and the owner.
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17 January 2025 | 40 replies
Property owners can apply for an STR permit now, before the effective date of the new plan, and can operate thereafter (i.e., be grandfathered).
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24 January 2025 | 4 replies
For your 1st time, pay a Property/Land/Transaction Attorney to review the title commitment with you to make sure that there are only the outstanding liens on the property, and that the owner has title.- Collect Tax Certificate to verify Property Taxes are Paid- Get a current statement from the seller to verify the existing balance, if they are delinquent, you can get the bank on the phone to verify the amount to make the loan current.- Review the loan documents, there is most likely a due on sale clause, which is why you won't find a title company to process these for you.
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16 January 2025 | 12 replies
The owners refused my advice to reduce price and they both sat vacant for months.
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28 January 2025 | 12 replies
And the owner is very responsive to questions or issues (emailed him at night and received a reply within a few hours).
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18 January 2025 | 11 replies
If you have a partner and are a minority owner or LP in the deal, you may find something, but that doesnt sound to be the case from your description.
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27 January 2025 | 13 replies
It seems they were non-paying tenants even under the previous owner, who likely sold the property because of them.
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21 January 2025 | 5 replies
Buyers don’t care if you shelled out more on the rehab, if you’re priced too high, you’ll end up sitting on the market way longer than you want, driving up holding costs.Lastly if your buying on market, REO or Corporate sellers are dominating and not as willing to negotiate as owners would.
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10 February 2025 | 20 replies
Since you'll be owner-occupying, take advantage of low down payment loans like FHA (3.5%), Conventional (5%), VA (0%), or a 203k loan for renovations.
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30 January 2025 | 8 replies
For example, maybe you will get to 10, 20, 30 houses and then find an owner who has a large portfolio and all of a sudden you are at a high door count and now need to hire, need to build your policy binder, and all the other stuff that comes with running a business.