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12 January 2025 | 185 replies
No Bank, Credit Union or Portfolio lender wants to foreclose on any loan if there is a way not to.
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26 December 2024 | 2 replies
Your credit, investment history and bank statements will likely be evaluated and you'll need to personally guarantee the loan, but you can close under your LLC.
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27 December 2024 | 8 replies
The tenant pays a monthly premium and keeps an active bank account and credit card on file.
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16 January 2025 | 11 replies
Now 3 of the 5 taxing authorities give a credit for doing them on time which can be as high as $150 savings for me each month and I am not sure I would get that using Avalara.
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1 January 2025 | 12 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.
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26 December 2024 | 4 replies
But, they have ZERO liability for the performance of that tenant.Second, 97%+ have no idea on how to screen a tenant, other than income = 3x rent and a credit score.
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29 January 2025 | 40 replies
Or are you actually talking to a bank about buying the note so you can see the notes and credit on the owner of the property?
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7 January 2025 | 1 reply
I'm broke as a joke but I have good credit how do I get started
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10 January 2025 | 3 replies
Was it included as a credit/debit on the HUD so it should have reduced your cash to close?
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21 January 2025 | 35 replies
Charges them all for parking passes (on the lots I own), charges for pets, charges to empty the coin op laundry, charges for credit checks etc.