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23 December 2024 | 5 replies
Thanks in advance!
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24 December 2024 | 14 replies
I'm more so wondering what makes the most sense as I do want to treat my investing journey as a business.Thank you in advance for your advice!
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23 December 2024 | 5 replies
Advanced options like a charitable remainder trust can provide tax deductions while avoiding immediate capital gains.This post does not create a CPA-Client relationship.
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11 December 2024 | 8 replies
Unused contingency funds, unless they were received directly from the borrower, must be used to reduce the outstanding balance of the renovation mortgage after all of the renovation work has been completed and the certification of completion has been obtained.The loan is not re-amortized.Draw Schedule:The HomeStyle program has a maximum 4 draw process.The initial draw can be up to 50% of the total project and can be for materials for the project.The final draw will be at least 10% of the total project as retainage and funds will be released upon receipt and approval of final inspection, Certificate of Completion from Appraiser, signed All Bills Paid Affidavits and Lien Waivers.Additional Draw Information:Ø Signed Draw Request by borrower and contractorØ Signed All Bills Paid AffidavitØ GMG review and approve the draw request and will release funds for disbursementØ A check will be issued in the name of the borrower and contractor and delivered to borrower via USPSØ An inspection of work to date will be performed at 50% completeFinal Draw Information:Ø Signed Draw RequestØ Final inspection/Completion Certificate will be required for release of final fundsØ A Title Update showing property free from lien or encumbranceØ General Contractor’s Lien Waiver AffidavitØ Affidavit of Completion GR will review and approve the draw request and will release a check in the name of the borrower and contractor.Change Orders and Cost Overruns:Changes to the initial plan are not permitted unless prior approval by Guaranteed Rate.
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27 December 2024 | 21 replies
Thank you in advance.
20 December 2024 | 1 reply
If you know of any online forums or organizations where I can learn from others and expand my network and knowledge on wholesaling or getting my first deal, I’d really appreciate any recommendations Thanks in advance for your help!
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23 December 2024 | 9 replies
Thanks in Advance