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25 January 2018 | 3 replies
Here are the numbers:Original Loan Amount$417,000.00Loan Balance$2,600,000.00Judgement Amount$419,907.00Estimated Value$939,000.00Equity$519,093.00This is the mortgage history:Recording Date Loan Description Loan Amount2/26/200Fixed Rate$30,000.0012/4/2003Fixed Rate$210,000.004/11/2005Variable$389,500.0010/24/2005Construction Variable$850,000.0010/18/2006Variable$1,000,000.00 $120,000.001/8/2009Fixed Rate$417,000.001/20/2010Home Equity Line of Credit (HELOC) Variable$200,000.007/15/2011Home Equity Line of Credit (HELOC) Variable$350,000.009/19/2012Construction Unknown$900,000.005/9/2013Unknown$1,550,000.009/26/2013Unknown$2,600,000.0010/6/2015Fixed Rate$429,923.0009/19/2013Conventional$2,600,000.00
21 February 2018 | 3 replies
Many have been carefully restored to original condition and are worth prices much higher than the typical sale comps in their geographic area.
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13 February 2018 | 16 replies
Based off of your description of one person ending up with the properties over the years points toward each property having its own deed.
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26 January 2018 | 5 replies
In the property description is where the 3-unit conversion is listed, but property type is listed as Single-family in the property stats.
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30 January 2018 | 6 replies
Property Information Cost Information Property XXXXXX Building Cost $ 820,000 Location lighthouse dr Land Cost $ - Type of Property Cost Basis $ 820,000 Size of Property 3892sf Less Mortgages $ 420,000 Equals Initial Investment $ 400,000 Amortization Period 27.5 Ratio Information Loan to Value 51% Mortgage Information Cashflow / Initial Investment 5% Balance Payment Interest Loan Term Amtz Period Cashflow / Assets 2% 1st Mtg $420,000 $(2,128) 5% 30 360 CAP Rate 6% # Description(All Figures are Annual) Annual Amount Notes 1 POTENTIAL RENTAL INCOME $96,000 Total Potential Income if rented 100% 2 Less: Vacancy $(450) Assumed 2% Vacancy Factor 3 EFFECTIVE RENTAL INCOME $95,550 4 Plus: Other Income $- Other Fees, charges, etc 5 GROSS OPERATING INCOME $95,550 Total Revenue OPERATING EXPENSES 6 Real Estate Taxes $5,000 Property Taxes 7 Personal Property Taxes $- 8 Property Insurance $5,000 9 Off Site Management $22,000 10 Payroll $- 11 Expenses/Benefits $- 12 Taxes/Worker's Compensation $- 13 Repairs and Maintenance $8,000 14 Utilities $6,000 15 Accounting and Legal $- 16 Licenses/Permits $- 17 Advertising $100 18 Supplies $- 19 Lawn and Grounds Keeping $2,500 20 Miscellaneous $1,000 21 22 23 24 TOTAL OPERATING EXPENSES $49,600 Sum of Line 6 thru 23 25 NET OPERATING INCOME $45,950 26 Less: Annual Debt Service $(25,537) Total Mortgage Payments 27 CASH FLOW BEFORE TAXES $20,413 28 Add Back: Principal Payments $6,637 Principal Paid on Loan 29 - Depreciation $(29,818) Tax Depreciation on Building 30 TAXABLE NET INCOME (LOSS) $(2,768) What do you guys think of these numbers above?
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29 January 2018 | 4 replies
Based on the description above, do either of you lean one way or the other (low vs. high demand)?
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28 January 2018 | 13 replies
@Matt Romano it won't surprise you that one strong recommendation is to consult an attorney, in this case one who specializes in commercial real estate.It's a little unclear from your description what's going on, but it seems like the tenant was renting a garage space as storage only and not living there?
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8 February 2018 | 4 replies
I live in Florida so I need someone who will provide a detailed analysis with pictures and descriptions.
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8 February 2018 | 6 replies
In the ad set level create a custom audience of people that watched a good majority of the video, 20% give or takeWith this ad, your going to want to make a stronger call to action to get them to actually show up. remember to make it creative people are tired of bland old ads, so make it worth their efforts.Now obviously there's a little more to it than that but I'm giving you a brief description of what is possible.Hope I provided you with some real tangible value.
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29 January 2018 | 7 replies
@David Miller is just about spot on in his description of the 45 day list.