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18 October 2024 | 7 replies
Also, explain how you'll share the acquisition costs, such as the down payment, renovation, and closing costs.Payment Responsibilities: Explain how to divide and pay for regular costs like mortgage, property taxes, insurance, homeowners association fees (if applicable), and upkeep expenses.Management and Maintenance: Agree on how property maintenance, repairs, and improvements will be handled, including decision-making processes, funding for these activities, and responsibilities for performing or managing the work.Single Decision Point: For example, I've seen situations where one person agreed to replace an appliance while another strongly opposed it.
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17 October 2024 | 10 replies
Perform the same task in each app to ensure a fair comparison.Load a property with pictures and details.Market that property.See what your marketing looks like from the public's perspective.Submit a fake application to see how easy the process is.Run a credit/screening report on yourself.Enter a maintenance request, assign a vendor, and attach a fake invoice.Enter charges to the tenant's ledger.Enter recurring charges and automatic late fees.Sign documents electronically.Run owner reports.After testing a few apps, one should clearly stand out.
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16 October 2024 | 8 replies
@Annette Eck I’d send a complaint to the real estate board and the agent’s broker, especially if you have video proof that the agent is giving lockbox code to applicants, not present with them.
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16 October 2024 | 1 reply
Many people mistakenly think that bonus depreciation only applies to new properties or recent acquisitions, but you can indeed retroactively apply it to properties placed in service after September 27, 2017, thanks to the Tax Cuts and Jobs Act.The IRS allows you to catch up on missed depreciation without amending prior returns by filing Form 3115 (Application for Change in Accounting Method).
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16 October 2024 | 5 replies
If the lender does find out that a property transfer has taken place, and chooses to enforce the due on sale clause, the lender must provide the seller (debtor) and, if applicable to state law, buyer with notification of default under the mortgage or deed of trust, and specific time as specified by state law to cure the default.
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17 October 2024 | 21 replies
If the end product is similar to conventional construction, and is compliant with applicable building codes then I think you're good to go.I think you should also consider where you might start.
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15 October 2024 | 2 replies
I’ve paid for permit applications, clearing trees, survey, design and engineering, and architectural plans.
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16 October 2024 | 6 replies
Personally I think the Suburbs of Philadelphia is a stronger market with less hoops to jump through, strong rental demand, and a great pool of tenant applicants.
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15 October 2024 | 4 replies
Hence you needing to retain an Architect and have them do due diligence into the feasibility at which part of their services would be checking what is able to be built in compliance with the applicable jurisdictions.
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17 October 2024 | 14 replies
The tenant pool is definitely cut to a fraction and many applicants you can find all have different lease time frames.