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26 November 2024 | 4 replies
If you were entitled to those lawyer's costs your lawyer would have asked for them in the lawsuit because a judgement gives you the most ability to potentially collect that money back from the tenant.
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28 November 2024 | 10 replies
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.
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26 November 2024 | 15 replies
The only thing a tenant does it prove the rent you can collect as opposed to a proforma of suggested rent.
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26 November 2024 | 3 replies
I have been deliberately managing it as a rental (ie, contract, collecting rent, etc.).
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2 December 2024 | 34 replies
While collecting payments for buyer for 30 yr's.
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28 November 2024 | 184 replies
There is a significant difference between being awarded a judgement and actually collecting any money.
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25 November 2024 | 22 replies
Property Management Dashboard: Allows me to summarize delinquencies, notable expenses, upcoming lease expirations and rent bumps and send a monthly email automatically to the property manager for a status update.Everything I've found is either focused on the property management and rent collection or on managing investors.
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25 November 2024 | 7 replies
If you do take on new debt or collections during this time, the lender will see and it will require that it be accounted for in your DTI (unless this is a DSCR loan).
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25 November 2024 | 4 replies
For example, an agent would collect a reduced commission, flat transaction fee, or no commission if the buyer sources an off-market deal directly.In your case, if you'd like to compensate your agent, you can include it in the loan.
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26 November 2024 | 11 replies
Meeting that 2 in 5 of the last requirement allows a single owner to shield $250k of appreciation and a married couple to shield $500k.Unless you predict a lot of income from the MTR or you feel that there is a lot of appreciation incoming over the next three years (minus time get the property sold), you may want to consider collecting your $100k (passing GO) and redeploying that money to whatever you feel is its best use.