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5 October 2024 | 16 replies
For Property 1: Should I sell this property and transfer the equity into another investment, or should I explore ways to lower the monthly payment and break even or slightly positive on cash flow?
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2 October 2024 | 11 replies
Heres the numbers: Borrower(s)Subject PropertyRate Not Locked 9/30/2024 Sales PriceDown PaymentLoan Amount30 Year FixedContract DepositSeller ConcessionNMLS# $670,000.00$167,500.00$502,500.007.000% $0.00$0.00 Bank Origination Charges Estimated Title / County / State ChargesOrigination Points % $ - Owner's Title Insurance $ 4,415.00Discount Points % 1.500% $ 7,537.50 Lender's Title Insurance $ - Underwriting Fee Title Search $ - Appraisal Fee $ 650.00 Title Services $ - Credit Report Services (1) $ 299.00 Alta 8.1 $ - MERS Fee $ 25.00 Recording & Transfer $ - Flood Certification $ 8.00 Notary $ - Tax Service $ 85.00 Settement Fee $ - VOE Fee $ 150.00 Total $ 4,415.00 Total $ 8,254.50 Prepaid Interest / Items Potential Additional CostsPer Diem Interest 15 Days $ 1,465.63 Rental 1007 $ 250.00Home Insurance $ 1,800.00 New Survey (if applicable) $ -Flood Insurance $ - 2nd Appraisal / Reinspection $ - Total $ 3,265.63 Total $ 250.00 Escrow and/or Property Taxes Due Total Estimated Monthly PaymentsTotal Insurance(s) 3 Months $ 450.00 Principle and Interest $ 3,343.15Property Taxes 4 Months $ 2,868.64 Total Property Taxes $ 717.16Total $ 3,318.64 Total Insurance(s) $ 150.00 HOA / Maintenance $ - Monthly PMI $ - Total $ 4,210.31Total Estimated CostsEstimated Closing Costs $ 12,919.50 Estimated Escrow Prepaids $ 6,584.27 Estimated Funds To Closing $ 187,003.77
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27 September 2024 | 11 replies
or is it still possible to transfer the home to an LLC for asset protection with a quit claim?
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9 October 2024 | 312 replies
Are your interests assignable or how does a transfer work in general please?
1 October 2024 | 10 replies
I’m unsure if HEL or HELOC or selling the rental, doing 0% balance transfers makes more sense, or a combination.
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30 September 2024 | 0 replies
I don’t have an immediate need for the equity transfer but it seems like the right thing because mobiles are so hard to leverage and I don’t want this new property using up all my equity indefinitely.
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30 September 2024 | 1 reply
But my background and experience is in Business Development, and Marketing Strategy in close integration with sales, so I figure I at least have some transferable skills that'll allow me to make the most out of property as an asset class.
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1 October 2024 | 7 replies
Lenders may or may not let you transfer the title over after your purchase.
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2 October 2024 | 16 replies
Remember that if you later take over and manage it yourselves, you'll need to start a new account from scratch - your previous reviews with that property manager won't transfer.
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30 September 2024 | 8 replies
Considering our options - if we opened a Delaware LLC could we purchase a property under or transfer under if the property is purchased in CA?