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17 April 2024 | 8 replies
This is an intriguing opportunity for me, but I'd like to gather some insights from those who have experience with this type of transaction.Specifically, I'm curious about:1.
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18 April 2024 | 12 replies
Here's a PARTIAL list:Office rentComputers, printers & softwareInternet & phone billOffice furnitureOffice supplies: paper, postage, ink, etc.Office liability insuranceAuto expenses: monthly payment, insurance, gas, maintenance, registration/plate feesBroker license fees: annual, monthly board & MLS fees, continuing education fees, E&O insuranceEquipment: lockboxes, signs, etc.Business income tax preparation and paymentsStaff payroll & payroll taxes Time Tasks: answering phones, calling past due tenants, scheduling tours, taking marketing pics, processing those pics, writing ads, researching rent amounts, posting ads, explaining to owners how rent determined & showing where ad posted, opening & processing mail, posting payments, bank deposits, scanning documents & posting to owner & tenant portals, explaining accounting to owners so they understand their monthly statements, taking pics/videos of repairs, finding reputable handymen and contractors, confirming they're properly licensed & insured and tracking annually, verifying repairs done properly, processing invoices for utility bills, repairs, taxes, city inspections, scheduling periodic property evaluations/inspections with tenants that don't want strangers in their homes, explaining to owners why taking so long, and more & more & more...
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16 April 2024 | 14 replies
It has the ability to set up custom workflow, manage documents (including a doc portal for borrowers to upload), servicing management, auto-document generation, and email templating for streamlined communications with vendors like title and escrow, insurance agents, borrowers, and investors.
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15 April 2024 | 6 replies
What type of deed restrictions are going to be placed on each sale?
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18 April 2024 | 141 replies
No books. type in Dr.
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17 April 2024 | 16 replies
However with good property manager and not a slum type tenant they pay like clockwork as they are 50-65 years of age lot of them working at grocery store or school etc.
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16 April 2024 | 2 replies
I see the same things from borrowers or those that take on mortgages.understand the concept.. but did not read much of the 30 page Mortgage document.Or read and understand the note.With so many of the larger HML or DSCR loans being backed or bought by wall street firms you know their lawyers are creating these documents and I suspect virtually no one reads every clause in them and or understands what they mean in relationship to the transaction and what your signing.
17 April 2024 | 3 replies
Peak months are February and March.For Key West, the same trend occurs but with less dramatic swings (likely due to the greater variety of listing types).What size property are you looking for?
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17 April 2024 | 1 reply
What made you interested in investing in this type of deal?
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17 April 2024 | 3 replies
This does not necessarily mean they will not sell, but if it is in BK it would need to be approved by the trustee, and depending on the type of BK they filed and the size of the unsecured creditors the trustee would only allow it to sell to the public to get the best price because - they have to make sure they get what they can for unsecured creditors AND the trustee is paid based on what is sells for, so they will want it to sell for more.