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8 August 2007 | 10 replies
Four mostly European banks who have operations in the US but more in the secondary market or through specialist lenders.Chase the deal but expect you might not find an inside track.John Corey
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25 July 2007 | 6 replies
bigdave19,As Rehab said, you missed most of the operating expenses.
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19 November 2007 | 7 replies
Generally those guys are "fly by night" operators, and come nightfall, they'll fly.
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20 September 2007 | 6 replies
Here is the word doc. that he forwarded me for how the process would work: [i]BANNER BUSINESS SOLUTIONS LLC 1401 Elm Street Suite 4737, Dallas TX 75202Chief Operations Officer: Dwight DilworthPresident of Marketing: Otis Tucker 214-213-7868PROCESS FOR INVESTMENT PROPERTYLocate property that meets investment requirements.
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25 July 2007 | 3 replies
I am not even sure what government authority would be responsible for auditing that and/or what they would do if you put that money in operating fund.
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27 July 2007 | 1 reply
Asking 350k 12 unitsScheduled Gross Income: $72,000Vacancy (5%):$3600Effective Gross Income: $68400 Maintenance: $7200 Taxes: $12,600 Insurance: $1,200 Other Expenses: $10,600 Total Expenses: $35,200Net Operating Income: $36,800/12=3066.66350k@8% for 20 years=$2,927.54balance=139.12/12=11.59 per unit not stellar by any means, but in the black.
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30 July 2007 | 7 replies
When the property is in foreclosure the bank is still only the lender and is not the owner.Recognizing the subtle differences is important when you are working short sales, foreclosures, REOs and other ways to buy and sell.By extension a bird dog is operating illegally if they are trying to be paid based on the successful completion of a RE transaction between a buyer and seller where the bird dog is not a principal.
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31 July 2007 | 6 replies
Operating expenses include taxes, insurance, management, maintenance, vacancy expenses, advertising, utilities paid by the owner (at least during vacancies, rehab, etc), evictions, court costs, entity maintenance, legal fees, common area upkeep, lawn care, snow removal, office supplies, damage done by the tenants (in excess of the deposit), lawsuits, capital expenses (although not technically an operating expense), etc, etc, etc.
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29 July 2007 | 2 replies
I also use the 50% rule on gross rent to find the operating expenses.
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19 February 2011 | 19 replies
Because that seems to be the most flexible option for me where the LLC can be operating in whatever capacity it does and my IRA simply makes a portion of the profits.Obviously I'm looking for the most flexible option here, which is the whole reason to go to an SDIRA for me.