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19 February 2024 | 1 reply
It has two separate entrances with an extra 100 sqft of storage behind each garage.
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20 February 2024 | 7 replies
We have our big meeting once a month, usually a Saturday event, and several smaller weekly and monthly meetups.
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20 February 2024 | 12 replies
It usually ends bad for all involved including the GP.
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19 February 2024 | 9 replies
Yes, try to avoid burning/using your money from your savings account unless it's you have extra savings to spare.
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19 February 2024 | 1 reply
So my question is - is there a way to offer an extra 20k outside of the normal escrow process?
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20 February 2024 | 5 replies
I was about to start the process to get a retroactive permit but realized the additional cost of a new exterior stairwell (metal) and architecture fees is almost 30kIm starting to weigh the options of either full tear down with a new 4 unit construction or separate building in the front of property (current is set back thus the extra costs to permit) or adding a 2 story 2 unit addition connecting to the old propertysorry this post has become 2 ideas i need advice onif it deconvert can i use it as an inlaw suite with 2nd floor unit or a duplex up.
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20 February 2024 | 1 reply
Are there any tools or platforms outside of the usual suspects (LinkedIn, Facebook, etc.) that you've found particularly useful?
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20 February 2024 | 13 replies
It's interesting what people will do in acts of desparation.In my experience, lenders (specifically private lenders) will do what they can to work with a borrower to avoid foreclosure, which is a costly endeavor for the lender and requires time to process, usually months and months, depending on your state.Also, while an LLC is often considered a safeguard to protect personal assets, a lender using an LLC for multiple loans may have a substantial value to their LLC, which could all be at risk.Finally, if the wrongful foreclosure suit is legitimate and based on an error by the lender themselves, an attorney could logically sue both the LLC and the individual.
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20 February 2024 | 7 replies
There is usually always a reason for the way things are - more often than not people do not ask the simple “why” because they are too embarrassed, make assumptions, or simply prefer to ignore their knowledge gaps.
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20 February 2024 | 1 reply
The formula for calculating DSCR is straightforward:DSCR=NetOperatingIncome(NOI)/TotalDebtServiceNet Operating Income (NOI) represents the property's income after operating expenses.Total Debt Service includes all debt obligations, such as loan payments, property taxes, and insurance.A DSCR ratio above 1 indicates that the property's income is sufficient to cover its debt obligations, while a ratio below 1 suggests insufficient cash flow to cover debt payments.Lenders usually have specific DSCR requirements, with higher ratios indicating lower risk for the lender.