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10 May 2020 | 10 replies
Here is a list of the tenant protections (eviction rules, etc.) each state has put forth in light of COVID-19, along with links to each of the states' websites:https://www.nolo.com/legal-encyclopedia/emergency-bans-on-evictions-and-other-tenant-protections-related-to-coronavirus.htmlThere have been bill proposals of "nationwide cancellation of rents and home mortgage payments through the duration of the coronavirus pandemic, which would include full payment forgiveness with no accumulation of debt for renters or homeowners," but no actual bill has been passed to-date: https://nypost.com/2020/05/02/what-to-do-if-you-cant-pay-rent-amid-coronavirus-pandemic/The most drastic thing I've seen so far that comes closest to tenants legally not having to pay rent, is a temporary pause on rent payments in L.A.
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2 May 2020 | 6 replies
Hey Keith,For an SFR LTC deal such as this, I would consider providing the following (in no particular order):AddressPurchase price / renovation cost estimates / ARV or pro forma CAP rateDeal structuring (equity vs loan proceeds)Projected rehab timeframeBeginning date of project (day escrow closes) Projected exit date (expected sale date) Surrounding comps to justify purchase & sale priceEquity distribution project structuring (will returns be a fixed % for GP & LP(s), or is there a waterfall equity return model based upon varying levels of success) Expected ROI distribution date (After exit, and if profits, when can investors expect to get paid)Those are just top of my head, you may not need everything in there depending upon the investors you're looking to approach this deal with.
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1 July 2021 | 5 replies
Does written mean actually mailing a letter to them, or can I just print a letter - sign/date and hand deliver?
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22 June 2020 | 9 replies
(Don't imply they have wasted the money elsewhere, even if there is a brand new car in the driveway, etc) This all needs to be documented so do it in something like an email chain making sure to identify their full name, the property, and reference important lease terms like the effective date, deposit amount, rent amount, how much they are behind, etc.
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6 June 2020 | 12 replies
The numbers are in for Jacksonville's market in April.You can look at them in 2 ways and I think they are both applicable.Year to date and monthly performance.We are behind 2019.
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4 May 2020 | 1 reply
The interior is a bit dated but is extremely clean and well cared as it has mostly been vacant outside of when they visit the area for vacation.
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6 May 2020 | 9 replies
You can also buy 12 packs of filters, date them, and have your tenant change them through their tenancy.
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13 May 2020 | 18 replies
Generally, the coverage of the Title Company policy will state; “The coverage of this policy shall continue in force as of Date of Policy in favor of an Insured after acquisition of the Title by an Insured or after conveyance by an Insured, but only so long as the Insured retains an estate or interest in the Land, or holds an obligation secured by a purchase money Mortgage given by a purchaser from the Insured, or only so long as the Insured shall have liability by reason of warranties in any transfer or conveyance of the Title.”
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6 May 2020 | 5 replies
95% of May's rent in to date.
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5 May 2020 | 0 replies
To date there is no Federal Guideline ( that I am aware of ) on what servicers can or should do ..