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13 April 2020 | 9 replies
For one thing prices are not going to rise and right now from what I hear the demand for loans is huge.
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13 April 2020 | 4 replies
They give you a policy year 1 with a great rate and say it is their normal rate and then switch it up next year to rise a lot.There is business loss insurance from the landlord side as well as the tenant side.
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10 April 2020 | 2 replies
Cap rate doesn’t take into consideration any loan payments.Just guessing that is the case due to $34k decrease with minimal booking fee commissions and such.
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13 April 2020 | 15 replies
If there is a huge spread between current assessed value and your purchase price, beware that you might trigger a reassessment in taxes...and the numbers you used didn’t take this into consideration.
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12 April 2020 | 8 replies
The value to the buyer can add up to a very sizeable amount of money; typically pays the up-front lender fee to lower the interest rate, which results in accumulating paid interest savings for the buyer as long as the buyer owns the property, or for the life of the loan; may add up to many tens of thousands of dollars; make sure you check the fine print of the lender's loan lock provisions; be sure your seller's money is truly paying down the loan rate as opposed to paying other lender charges to the buyer. 3.Seller-Funded Temporary BuydownsBuydowns can also be structured to adjust the buyer-paid interest rate for a limited number of years; can cover the first two, three or four years or more of the buyer's loan; allows your seller to reduce the buyer's ongoing loan cost (monthly payment) considerably.4.Owner FinancingA willing seller may be able to keep their selling price intact by offering financing to a buyer; for a seller who needs to sell as soon as possible for the best possible price; expands the potential market for buyers to those who might not qualify with a lender for any number of reasons relating to their credit, verifiable income, or other issues; seller creates an 'investment" that can produce an annuity with a very good rate of return for many years; seller needs to become very well educated on how to qualify a potential buyer (how to get credit, income, debt ratio, and other accurate personal historical data on the buyer-and how to verify that data); seller needs legal advice to review contract documents, as well as title and escrow services to conduct a title search and closing; buyers attracted to seller financing may have income sources including part- time work, bonus income, royalty income, dividend and interest income from investments, or they may be newly self employed; seller who finances needs to get a substantial down payment and ensure that the property is adequately insured by the buyer and that initial property taxes are pre-paid and a tax payment plan is established; if the buyer stops paying, the seller will have to proceed like a bank or other lender and foreclose on the buyer. 5.Contract for DeedA contract for deed agreement to purchase is similar to a seller-financed purchase.
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13 April 2020 | 11 replies
I would just make sure you take everything into consideration!
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13 April 2020 | 4 replies
Our broker has told us the umbrella market has tightened considerably due to poor loss experiences for residential and all of her client's umbrella premiums have gone up.
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13 April 2020 | 6 replies
As far as condos go I have thought about it, and is still in consideration, but I would rather much go for a single family with a separate ADU because I would rather live by myself.
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13 April 2020 | 14 replies
@Evan Polaski @Hadar Orkibi @Brian Adams @Erik Hatch @Greg Dickerson are any of you actually rising money on a deal right now?
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3 December 2021 | 33 replies
Insurance policies don’t contemplate rebuilding costs rising 50% overnight and 2 years to rebuild.It cost me $165-170K out of pocket for this disaster and I didn’t have enough $$ to cover it.