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5 April 2024 | 6 replies
Hi I have a property in Orlando with a claim for a new roof that has now been going on with the insurance company for many months.
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5 April 2024 | 1 reply
I have been approached by a number of companies who provide housing solutions for individuals with special needs and think it could be a fulfilling partnership, but want to make sure I am mitigating risk and protecting myself.
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5 April 2024 | 7 replies
Wind/Hail has hit them hard over and over to the point that a lot of companies have pulled out.
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5 April 2024 | 1 reply
I've been paying escrow+mortgage on rentals since 2015 and never had this happen to me.Details:Mortgage company does an escrow analysis and finds the following:2023 Taxes $1648 + Insurance $1634 = Total: $3282New Escrow for 2024Taxes $2331 + Insurance $1918 = NEW TOTAL: $4250- With increased tax and insurance I owe $968 more on escrow.- $968 difference paid out over 12 months would be $80.60 per month MORE.The mortgage company is claiming that I owe $3,000 MORE in escrow and is charging me an additional $250 per month.I checked with them and I've NEVER missed a payment and have been up to date this whole time.They say its not a mistake but couldn't explain why I owed $3000 more instead of $968 more for the year.Am I missing something?
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5 April 2024 | 2 replies
We were contacted by our PM regarding this coverage and they recommended this company.
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5 April 2024 | 4 replies
So I would think that any good cleaning company could come and do a deep clean after a 3 month stay just like you would with a LTR tenant flip.There should be a ton of cleaners in that area.
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5 April 2024 | 20 replies
I bought the building that my C corp business rents with a LLC company I own.
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6 April 2024 | 15 replies
That gives a clear consequence to the tenant, and also gives the property owner a clear reason to evict (if necessary).If you're unsure about the legalities or the best approach, consulting with a property management company familiar with local laws or a real estate attorney could be invaluable.
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6 April 2024 | 5 replies
Then, you’ll pay the agent (say 3% for the sake of argument, $5,400, since they’ll be doing a lot of work for you on this - I’d order that prelim/TRIO with my escrow company, and help you find lien records if any, plus provide all the contractual guidance to make sure you don’t lose your earnest money).
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5 April 2024 | 2 replies
you should get a RMLO or an underwriter to qualify the borrower. if its owner occupied and in florida you also will need to use a third party servicing company to service the loan which will run you around $450/yr. not an accountant but its my understnding unfortunately the interest income is going to be taxed at ordinary income and the principal will reduce the principal. how you offset the losses talk to your CPA.your best bet honestly is to just sell it and bite the bullet.