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26 August 2024 | 5 replies
Does anyone know any lenders that require only 10% down on a DSCR loan?
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27 August 2024 | 12 replies
., the destruction threshold); which Property characteristics the destruction threshold percentage applies to, such as market value, assessed value, replacement cost, or unit count; for Properties with multiple buildings, if the destruction threshold percentage applies to each building, or all buildings as a whole; the replacement cost to rebuild per current requirements for zoning, and land use; the Property’s continued marketability, and economic viability; the amount and type of Borrower-maintained insurance coverage required per Part II, Chapter 5: Property and Liability Insurance, Section 501.02C: Ordinance or Law Insurance; insurance loss proceeds payout, compared to increased rebuilding costs, including from building code changes, Americans with Disabilities Act compliance, and the municipality's local zoning requirements (e.g., green compliance for new buildings, etc.); the sufficiency of estimated insurance proceeds from ordinance or law insurance and other coverages to repay the Mortgage Loan in the event of partial or full casualty, or condemnation; and for a Tier 3 or Tier 4 Mortgage Loan, if requiring execution of the Limited Payment Guaranty (Form 6020.LPG) would mitigate the risk of the as-rebuilt Property not supporting a Tier 2 Mortgage Loan.
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25 August 2024 | 8 replies
The other thing to keep in mind is that windstorm coverage applies to wind damage to the entire building, and not just the roof in my experience.
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26 August 2024 | 1 reply
The policy for the duplex most likely does not provide any coverage to the tenants belongings or vehicle.
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26 August 2024 | 10 replies
I did have one tenant ask what is an aggressive breed, and I had to google a comprehensive list because I didn't have it readily available.
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25 August 2024 | 4 replies
I've had them for a year, and with in that year the company changed coverage policies.Now every insurance company I call to get coverage from says they can't insure my duplex, because it has a flat roof and over 105 years old.
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28 August 2024 | 32 replies
Develop a comprehensive business plan outlining your strategy, target market, and expected returns to present an attractive proposal.5.
29 August 2024 | 70 replies
I will never lend again... its advisairial on its face.. we as HML take ALL the risk or 80 to 90% of it... borrowers who think 70% LTV is enough coverage for a HML have no clue.. plus they are thankless most of the time.. it becomes the bad lenders fault.. so to heck with those folks..
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27 August 2024 | 18 replies
Gaps in insurance coverage can also occur due to confusion regarding the proper insured parties, and transaction costs may also be higher if involved parties do not have experience with the series LLC structure.
30 August 2024 | 70 replies
Again, people don't understand it, but they think their opinion means something regardless.Second, from what I've seen, Renatus provides *COMPREHENSIVE* education tracks on particular subjects.