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26 November 2024 | 2 replies
.🔴 Incomplete or disorganized documentation: Missing detailed plans, financial statements, or timelines could mean the borrower isn’t ready to execute the project successfully.🔴 Over-leveraged finances: Borrowers with excessive debt or insufficient personal capital invested in the deal could pose a greater risk of default.🔴 Questionable property comps: Overstated market values or inappropriate comparables may mean they’re inflating expectations.As always, thorough due diligence is your best protection.
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26 November 2024 | 3 replies
Document the time you spent on the property compared to others, especially if you’re trying to qualify under the “100 hours and more than anyone else” test.
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25 November 2024 | 12 replies
If the software is not simplifying your life or making you more accurate, you shouldn't use it.Software does have extremely helpful features like online payments, marketing syndication (click a button and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.
26 November 2024 | 7 replies
This can be a city or neighborhood.We manage a lot of Class C properties in the City of Detroit, so previous evictions are common.We typically do NOT allow within the last 3 years and we want to see stable employment, income and no other major credit issues since.For Class B rental we're looking for no evictions in last 5 years.Class A, would be at least 7 years.Of course, there are exceptions to all of the above for extenuating circumstances the applicant is willing to provide acceptable documentation for.
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23 November 2024 | 7 replies
Use an attorney to create documents for you2.
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23 November 2024 | 5 replies
Print them off, study them, highlight them, make notes, read some blog posts, and understand the subject.The second document he links includes precise definitions and a guide for landlords to use for screening support animals.
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23 November 2024 | 15 replies
You still have the right to require documentation proving the animal is legit. https://www.hud.gov/sites/dfil...Â
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25 November 2024 | 7 replies
If your credit is pulled for any reason, you will have to complete a letter of explanation and possibly provide more documents to show that no new debt was incurred.
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5 December 2024 | 87 replies
They don't publicly produce any documents showing what a fund holds or any information about the fund.Â
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25 November 2024 | 0 replies
Increase Your Cost Basis: Document and include the costs of significant improvements made to the property in your cost basis.