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8 July 2019 | 10 replies
If it's a big bank, it's probably more of a bureaucratic thing and they are sensitive to anything having to do with compliance.
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3 July 2019 | 2 replies
I'm not sure if she owns the house free-and-clear.My pitch was gonna be this:$10,000 down payment$1500/mo for 20 years I'd pay all closing costs Offer the prop mgr 1 year of fees (~$2650) to assist the tenant in the transactionThis works out to basically a $370K sale price, or the equivalent of $402K if she were having to pay regular agent/closing costs.Benefits to the owner would be:Her cashflow immediately improves by about $450/moShe gets an unexpected $10K bump - a nice kicker, but not enough to trigger a big tax eventShe no longer has to worry about or pay for taxes, insurance, property management, maintenance, wear-and-tear, bad renters, etc.The transaction is hassle-free - no inspection, appraisal, or bank loan that can fall through ... she'd just receive some papers via FedEx, sign them, and we're doneThe property - her former family home - would go to someone who truly loves it and would care for it well Downsides for her would be loss of future appreciation and rent increases; and maybe she has plans to leave it to someone in her family.What do you think of this offer?
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8 July 2019 | 14 replies
It gets triggered when you are adding square footage to a new space, e.g. renovating a basement or even just adding a bathroom to a basement can trigger it.
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7 July 2020 | 20 replies
I am going to dig into the Zillow stuff and little more before I pull the trigger.
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12 July 2019 | 18 replies
Their continued actions to move in the right direction should be your only reason for not pulling the eviction trigger.
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5 July 2019 | 28 replies
Of course it matters, and you can argue that it does reduce the net cash flow, but it cannot be considered a trigger for selling or exchanging!
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24 July 2019 | 50 replies
I was in the same boat earlier this year, and I finally just decided to pull the trigger and focus on the Louisville, KY market this year.
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23 November 2021 | 25 replies
There is also HUD McKinney Vento that is directed towards homeless individuals (which you could always do a set aside in a Multifamily if you don’t want to do 100% homeless).We always stuck to 11 units or under because 12 units would trigger Davis Bacon (prevailing wage) which would increase the cost of construction by about 30% and thereby make the development not feasible.
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23 July 2019 | 10 replies
You can monitor the camera system and flood light triggers similar to or the same as a Ring system and of course make sure windows and doors are fully secured.I would also talk to the neighbors on each side and across he street letting them know that under no circumstances should anyone be there on the property outside of X hours of the day and to call you or the police if they see anything.
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1 December 2019 | 10 replies
I have GC and he has all the subs and architect to modify the plans I have chosen to meet the local reqiurements , so that pretty much puts me getting ready to pull the trigger on a lot, after I ref my own house.