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14 January 2025 | 5 replies
Some, like ours, focus on offering optional services such as renters insurance or washer/dryer rentals without requiring tenants to opt into a full package.When choosing a property manager, I recommend asking about the structure and purpose of any fees.
13 January 2025 | 41 replies
You should have updated the address in the lender portal to your physical address so you receive statements and late pay warnings.Only way this scenario happens is if you do none of these.
11 January 2025 | 12 replies
If you aren't going to be living in CR full time as you try to execute the deal I do not think it is physically possible for you to obtain a loan from Scotia Bank and not worth your time to try because the rates are so high.
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28 January 2025 | 27 replies
Some want equity which is a little tougher to structure but possible.
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18 January 2025 | 8 replies
, status of major building components (roof, HVAC, structural, electrical, plumbing), accounts receivable aging (are all tenants paying or is the $20,500 schedule rent?)
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13 January 2025 | 4 replies
Another factor is that insurance coverage is only for the actual building cost to rebuild the structure.
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20 January 2025 | 57 replies
Sub2 is a risky strategy for a long term buy and hold as the longer the deal structure stays in place, the higher the chance that issues will arise (like issues with the loan servicer, insurance, seller filing for bankruptcy, seller dying, seller realizing their DTI ratio and ability to buy their next property is negatively effected and becoming upset about it like in your case, due on sale clause being called, etc.).
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29 January 2025 | 68 replies
Sullivan recommends the cooperative ownership model as the ideal structure for MHPs what is stopping you from forming either a high or low equity co-op and purchasing the park from SCI?
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17 January 2025 | 24 replies
They shall go to Inspira and remain there (especially with the transfer of the pricing structure) unless Inspira gives me reason to move them.
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13 January 2025 | 2 replies
Wondering if you have advice on me just being the bank, where I purchase a house and structure a rent to own with him and have him build up a 30% cash down payment and some equity and then me sell the house to him at a locked in price.