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12 October 2020 | 10 replies
It's a smart move to buy a duplex, triplex or fourplex and make one unit your principal residence - this way you only need a minimum down payment.
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16 March 2018 | 8 replies
My grandparents own (2) properties, their primary residence (paid off) and a rental property on the same street (has a bank loan with substantial equity).
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16 March 2018 | 5 replies
Bulk Sales provision should be in every single NJ contract where the owner is engaged in business and not selling in the regular course of business or a primary residence.
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28 September 2018 | 2 replies
Home price increases are sharpest in these markets, while dwindling housing inventory in the lower price classes could be discouraging people from buying.”Here are the basic stats on single-family home sales for February 2018 for the City of Austin and the greater Austin area:About the local economy, Mark Sprague, state director of information capital for Independence Title, said, "While wages and jobs in the Austin area haven’t increased, the local economy remains strong and continues to attract new residents and potential homebuyers.
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3 May 2018 | 10 replies
As @David Chwaszczewski said there's a big difference in mileage/rate for primary resident vs investors.
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15 March 2018 | 6 replies
Send the resident tennat and their handler a rent increase notice according to your state regulations.
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19 March 2018 | 38 replies
The exact conditions required for a residence to be habitable vary by state, but often include an operable heating source during cold weather.
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20 March 2018 | 6 replies
I could sell one of my properties (condo) use, that money for flips in Atlanta within the next 1-2 years build up additional funds to acquire an apartment complex, and to grow my portfolio, but I want to hear from some experienced investors and what they would do if they were in a similar position.Current Picture/Portfolio: Property 1: Condo (Atlanta, GA 30328)Current Rent = $1550/MonthUtility Reimbursement = $200-300/MonthHOA $383 (In line with HOA's for other communities) Purchased June 05th, 2015 and resided in property until Jan 22nd, 2017 (Total of 1.64 Years)Lease Started Jan 23rd 2017 and Lease Ends on June 30th 2018.Current Equity 135,000 (Purchase Price) - 85,000 = $50,000Current Comps Similar Properties are selling for $155,000 to $170,000Current Mortgage Terms: 15 yr Fixed 3.325% Monthly payment of $996 (Includes Insurance and Property Taxes)Anticipated Total Earnings if Sold at End of July $64,500 (Sell Price $155K) to $78,500 (Sell Price $170K) Property 2:Town-home (Peachtree Corners, GA 30092)Current Rent = $2000-4000/Month (AirBnB) 60-70% Occupancy since November of 2017Purchased July 28th 2017 and currently residing in basement house-hacking with my younger brother.HOA $325/Month Covers, Water, Lawn Maintenance, Sewage, Security GateCurrent Equity 336,000 (Purchase Price) - 265,000 (Remaining Loan Balance) = $71,000Current Comps Similar Properties are selling for $345,000 to $360,000 due to private/public school ratings going up shortly after purchase.Current Mortgage Terms: 30 yr Fixed 4.326% Monthly payment of $1823 (Includes Insurance,PMI, and Property Taxes.)
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16 March 2018 | 3 replies
Here's a sample of fine print:“Borrower shall occupy, establish, and use the Property as Borrower’s principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower’s principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower’s control.”Different lenders have different "fine print" statements that may be more grey and confusing.