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12 January 2025 | 20 replies
They usually have a step down on that penalty like 3% year one, 2% year two, 1% year three and so on and so forth.So if you are buying a deal with the intention of rapidly increasing it's value in less than 24 months in order to refinance it and pull your cash out, you might want to go with a credit union for the acquisition financing because FCUs are barred from charging pre payment penalties.I could talk about this for hours about all the nuances but my fingers don't type that fast lol
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2 January 2025 | 2 replies
Sorry you are dealing with that, it sounds awful.My guess is most attorneys are going to charge hourly on something like this unless you are suing the HOA for damages in which case they may take a contingency fee.
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1 January 2025 | 4 replies
Rich Young, Loughlin, Crest, etc.Commercial brokers typically do not charge fees for tenant/buyer representation but find a way to take their fees out of the deal.
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31 December 2024 | 3 replies
I thought it might be helpful to address some of the most frequently asked questions that I receive.
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6 January 2025 | 8 replies
Just withdraw it—it’s like a checking account.The Risks (Depends Who You Ask):A lawyer says everything can go wrong.An insurance agent says the same (so they can charge more).An engineer?
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14 January 2025 | 37 replies
I've vehemently argued against acquisition fees, syndicators that don't put a significant investment in their own deals, anything called a fund, large GP groups where you don't know who is in charge, and syndicators who ONLY raise money and don't manage the property, plus many other more minor sins.
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9 January 2025 | 107 replies
Property Management will charge $140 per month+$20 supervision fees.
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7 January 2025 | 9 replies
The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!
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6 January 2025 | 9 replies
I just saw today that I might finally have a second tenant placed (Both to pay $1250) but I’d still like to fire her and hire someone with guarantees around tenant placement and that charges a lower percentage.
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29 December 2024 | 6 replies
Since the buyer is not able to get bank financing, you are charging a few % points higher.So your $289k house might sell for 320k at 9.9% for 30 years.