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24 February 2024 | 7 replies
@Chris Seveney could you help me understand what kind of discount I should expect to see due to the condos being non-warrantable and not qualifying for conventional financing?
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26 February 2024 | 4 replies
That way you can tap into the equity in addition to some cash flow resulting from the low interest payment. 2. 1031 exchange: what would you buy as your next property?
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25 February 2024 | 0 replies
In addition, we had to pay all the closing costs, which rounded up to $4,000.
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26 February 2024 | 9 replies
Additionally, many lenders have limited legal usage conditions for properties to qualify as second homes (particularly in coastal areas.)
25 February 2024 | 8 replies
Yes, failure to observe corporate formalities can lead to piercing the corporate veil, but if it was only obeying you, then you can be sued in your own right, in addition to the corporate entity.Then there’s the question of umbrella insurance.
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26 February 2024 | 16 replies
Some of the problems are that the wire can become brittle, the insulation wears off over time, the porcelain insulators may be broken, it is ungrounded and all the splices and additions to the circuitry is more of a load than these old systems were ever supposed to carry.
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25 February 2024 | 7 replies
Your local PHA may also have resources to help match landlords with eligible tenants.The PHA must approve the lease agreement, ensuring it complies with Section 8 rules and rent limits.Pros:Guaranteed Rent Payments (sometimes even 100% based on certain tenant criteria)High demand for Section 8 rentals, which can reduce vacancy periods.Many Section 8 tenants prefer to stay long-term, reducing turnover rates.Cons:Properties must meet and maintain HUD's health and safety standards, which can involve additional maintenance and inspection requirements.The PHA limits how much rent you can charge, which may be lower than the market rate in some areas.Tenants must qualify for Section 8 based on income level and other factors, which may limit the pool of potential renters.Dealing with government agencies can sometimes be time-consuming and bureaucratic.In summary, converting your home into a Section 8 rental can be a good strategy for attracting and maintaining long-term tenants due to the stability and reliability of government-backed rent payments.
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25 February 2024 | 5 replies
QuickBooksQuickBooks can be a good option for tracking the financial aspects of your deals, such as downpayment, funding sources, mortgage details, and cash flow.Pros:Widely used, with robust reporting features.Can track both income and expenses, making it easier to manage the financial health of your properties.Offers integrations with banks and lending institutions for easier transaction tracking.Cons:There might be a learning curve if you're not familiar with accounting software.May require customization or additional apps to track all the specific real estate details you mentioned.3.
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26 February 2024 | 29 replies
I'd let the property management company know that your insurance company denied the claim you filed and have them contact their property management insurance (E &O) in addition to sending you the contact information to their insurance agent's name, contact information, and policy number.
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24 February 2024 | 8 replies
Next day she did this: send me the power company's rejection of discount for her electric bill when the house's thermostat is not smart one.