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6 April 2017 | 4 replies
Remember that FHA will ask for seasoned funds for your down payment and that your lender will want to see an additional 6 months of reserves in your bank account.
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6 April 2017 | 37 replies
Now she is complaining that I am being unfair and she is not happy because Cozy drafted her account on the 30th (so to her that means she paid).Even though she is a pretty good tenant who has paid on-time, my understanding in talking with other seasoned investors is that landlords can get into trouble by making exceptions (if I were to look the other way on this).
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30 January 2022 | 4 replies
Hey Brendon,We have a small campground we built so hopefully I can offer a little help until others contribute.Lots of things determine the construction cost and not being from your desired location handicaps me.That being said maybe I can at least shed some light on your idea.Things that will determine actual per lot cost are power,sewer and water.1-Underground power is the way to go,more cost but more spaces because of overhead clearance restrictions.2-Available sewer also is best but septic systems work fine but cost more and chew up land area and require more long term maintenance (we have septic systems,3 spaces per system). 3- Water,there again country,or city water is best but a well and your own systems works fine also just requires more upkeep.As far as the park itself it's best to (IMO).1-set park up with three sections to accommodate different styles of campers,over night,seasonal and annual (if area warrants),all three have there pros and cons,overnight area is cheapest to construct since you'll just have bathhouse ( no septic,power or water per site). seasonal spaces will be completely developed but will rent for highest amt because it's short term (usually power is included into rate).Last is annual which again lots are fully developed but not so much in and out and consistent cash flow,tenants put utilities in there name as they would a SFR.
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6 April 2017 | 3 replies
Hi John, when you go to sell on a fix and flip, most (but not all) lenders require 6 months of seasoning before they will fund the purchase.
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10 April 2017 | 18 replies
My understanding is that I either need to A.) get a job working for someone B.) use a mortgage broker or C.) team up with a partner and become seasoned for two years.I'm curious to what everyone on here thinks as to what my options and next steps are with this situation.
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11 April 2017 | 2 replies
Does anybody know of someone who offers a cash out refinance on a owner occupied property w/o seasoning period.The property is in Georgia.
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8 April 2017 | 5 replies
Besides, in some areas of the country, the market is very seasonal and/or can turn on a dime and all of a sudden 4-5 months after you bought and ready to sell, the ARV is lower.
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6 April 2017 | 1 reply
What I do when banks say noI look for another lending institutionthere are many ways to make a deal happen and for you to get your money back outremember when the bank says you have to get the money from a family member there is a little clause they aren't telling you about it is calledseasoningthat means the money you put in the bank has to season or sit in there institution for a number of monthsthis can really make a mess out of a dealthe numbers look good I would look for another avenue to wrap up the dealenjoy
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7 April 2017 | 5 replies
Your comment is common amongst new and sometimes even seasoned investors -- if your particular area is too expensive for you then look elsewhere.
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7 April 2017 | 15 replies
The fancier the brand and the bigger the size make it today’s backyard status symbol.A ‘year-round’ yardYour yard can look leafless and drab in the winter months, but flowering shrubs, colored bark, ornamental grasses and colored berries all add color in the cold seasons.