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8 January 2025 | 8 replies
In any contract you don't typically need a clause saying what you CAN do, its assumed you can do anything legally allowed as an owner including sell.
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3 January 2025 | 6 replies
Licensed with permits ~$3,250.HWT standard gas single family low efficiency without exhaust retrofit $900.Sand and stain hardwood floors, natural stain $3 per sf.Paint interior walls, ceiling trim and doors 3 tone paint scheme 2 coats $3.20 per sf (floor area cost includes paint)Click lock LVT flooring install overlay inclusive of prep and quarter round $4.50 per sf (materials and labor)Asphalt roof installation 3/1 - 800 sf bungalow with 2 layers of shingles - ~$7,900Standard porch cap replacement with 2 new precast concrete steps ~$2,500Used stove or refrigerator delivery and install $350New stove or refrigerator delivery and install $HD model specificUse this as a general guideline.
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7 January 2025 | 22 replies
This is calculated after accounting for all expenses, including taxes, insurance, utilities (water, sewer, garbage, electric, gas), and an allowance for maintenance costs (typically 5% of gross rent, adjustable based on the building's condition), as well as management fees.I invest in the Binghamton, NY area both as an investor and as a realtor.
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4 January 2025 | 5 replies
I carried double the cost on Gas and Electricity to be safe. ==== Projected Income ====**Off Season**-$4,000/Month Rent Period: September - May (7 Months) Projected Income: $28,000**Summer 1**-$8,000/Week Rent Period: June (4 Weeks)Projected Income: $32,000**Summer 2**-$8,500/WeekRent Period: July-September (12 Weeks) Projected Income: $102,000**Optional** (Basement Apartment)-$2,000/Month -Rent Period: Year Round Projected Income: $24,000TOTAL PROJECTED INCOME: $186,000 ==== Operating Cost ====-Mortgage: $84,000 ($7,000/Month) -Utilities: $36,200Gas $6,000 ($500/Month) Electricity $6,000 ($500/Month) Internet $2,400 ($200/Month) Garbage $5,000 (Estimate) Pool $4,000 ($250/Week)Landscaping: $4,000 -Mowing: $2,400 ($150/Week) -Clean Ups: $1,600 (Spring & Fall)-Weekly Turnovers: $8,800 ($550/Week)==== Legal Cost ====Summer Rental Fee: $20,100 (15% of $134K)Sandwich Rental Tax: $6,855 (15% of $45,700) NET PROFFIT: $38,845.00
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14 January 2025 | 9 replies
I told him he can break the lease, but according to his contract until I find a tenant - he will be responsible to pay the lease.
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14 January 2025 | 23 replies
Now, getting around the Due on Sale might be as easy as doing a Contract for Deed or a Purchase Option instead of Sub-to.
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3 January 2025 | 26 replies
.: I haven't really noticed any change at all in my market except minor changes to the standard contracts (minor language changes in contract to buy and sell, listing agreement, and buyer's agency agreement).
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9 January 2025 | 9 replies
There is also a provision in the promissory note that states in the event of default, we must deliver the property back in the same or better condition from the time of purchase. 2: We will deed the property back to the seller & execute a contract for deed.
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13 January 2025 | 14 replies
One, you might want to consider Seller Financing (in Michigan, we call it a Land Contract) which can allow you to buy property while using the Seller as Banker; not all Sellers are open to this, but it can be beneficial to both the Buyer and Seller.
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12 January 2025 | 23 replies
I am under contract for a 3 family home w a very unique set up. 2- 1 bedroom apartments and 3 and 4th duplex which has 5 bedrooms but only 1 bathroom this home is 8 min from Brown University in RI and 10 min from Johnson Wales. (6miles)Do u think its close enough to attract college students especially the duplex?