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12 January 2025 | 8 replies
And, @Steve Vaughan is correct; use a Quitclaim.Next is to check with the Title Company regarding the Title insurance.
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28 January 2025 | 27 replies
The problem is you can't afford to properly make repairs when you are dealing with the lower tier properties and go with the cheapest bids doing nothing but putting duct tape on issues that will become recurring or believing you are making the repairs correctly but use inferior labor and materials because its all the property can absorb cost wise.
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14 January 2025 | 8 replies
Buildim has a general ledger so you can record credit card transactions the same as in any other bookkeeping software 1- add to chart of accounts a current liability called for example capital one credit card2- when you want to record a credit card transaction go to general ledger create a journal entry, for example if you swiped your card for a maintenance expense in the amount of 1,000 youshould debit maintenance 1,000 and credit your liability account called capital one credit card for 1,000so your liability account balnce is always the same amount as your credit card balance 3- if you pay intrest on your credit card add to charts of accounts an expense account called capital one intrest fees and when you got charged intrest create a journal entry debiting capital one intrest expense account and crediting your liability account 4- to record a payment to your credit card you can record a check from your bank account payable to capital one you should add them as a vendor or you can do a journal entry It simple for anyone with a little bookeeping knowledge and btw thats how its also done in quickbooks or anywhere else And thats the correct way doing it although there are a few other workaround ways for exemple creating a contra asset or as paying a vendor So i dont know why you blame buildium it would be the same with any other software
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21 January 2025 | 74 replies
I was recently corrected as I thought 12 states required license but it’s up to 18 states now from what one of the BP experts let me know.Department of real estate for re brokernot sure on the cfl.
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18 January 2025 | 9 replies
I'd estimate your cash flow after you pay the loan payment would be $600-$800, which a lender that understands investment real estate should give you some credit for on your DTI.As for a bank, I have a specific lender at NBI that I would recommend.That 600-800 you are factoring in the HELOC repayment each month too, correct?
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11 January 2025 | 420 replies
So, I had to put zeroes in to maintain the proper format.There's the first two 10-month "chunks".
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12 January 2025 | 185 replies
They will read that if the borrower does this: Fails to pay tax's, Fails to maintain the property ( commits waste) , fails to provide insurance or ALIENATES the title..
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15 January 2025 | 34 replies
I believe you are correct.
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15 January 2025 | 10 replies
Be careful following the advice of strangers on the information superhighway.My apologies, you are correct on Familial status meaning pregnancy/children, I was indeed thinking more of marital status.
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18 January 2025 | 36 replies
Something like: Tenant will maintain interior temperature of unit at a minimum of 50 degrees.