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25 June 2019 | 13 replies
(a)Borrower shall keep and maintain at all times at the Mortgaged Property or the management agent's offices, and upon Lender's request shall make available at the Mortgaged Property, complete and accurate books of account and records (including copies of supporting bills and invoices) adequate to reflect correctly the operation of the Mortgaged Property, and copies of all written contracts, Leases, and other instruments which affect the Mortgaged Property.
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26 June 2019 | 16 replies
You're now firmly into life planning/legacy (wealth transfer) situation that cannot be adequately answered in this forum.
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23 June 2019 | 2 replies
In addition the borrower must have unrestricted access without penalty to the accounts; and if the assets are in the form of stocks, bonds, or mutual funds, 70% of the value (remaining after any applicable costs for the subject transaction) must be used to determine the number of distributions remaining to account for the volatile nature of these assets
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24 June 2019 | 7 replies
I'm conservative by nature and understand the statistics of having to sift through many homes, offers, and deals to the find the right one while sticking to my guns on my criteria.
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24 June 2019 | 3 replies
@Nathan Asher Robson Online data from Redfin.com and Realtor.com come straight from the MLS and are the accurate purchase (asking) price of the homes.Zillow is NOT a brokerage so it often has inaccurate information.But you can always offer whatever you think the value of the home is, even if it's lower and see if the seller accepts your offer.But don't be "that guy" that only offers lowball offers without doing adequate evaluations!
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26 June 2019 | 28 replies
@Lee Stephens make sure to account for the following expenses in your calculations:1) Mortgage2) Mortgage insurance (PMI or MIP) or FHA Risk base3) Property Taxes4) City Taxes5) HOA (Home Owner’s Association) Dues and Fees and Assessments6) Insurance a) Property Hazard Insurance (0.3-0.45%) b) Flood Insurance c) Earthquake Insurance d) Umbrella Insurance7) Vacancy Rate (usually 8% - the equivalent to one month a year, or 5-6% if multifamily and/or if experienced, if not use 8%)8) Utilities (you’ll have these if your tenant is not covering them and/or during vacancy) a) Water § Sewer § Garbage b) Electricity c) Natural Gas d) Propane9) General Maintenance (usually 5%) a) Upkeep § Landscaping b) Snow removal c) Repairs d) New Appliances e) Make ready10) Capital Expenditures (usually 5%, higher is the property is old and obsolete, less if fully rehabbed and all mechanicals and roof are new)11) Property Management (8%, even if you self manage, your time still has value and there might be a time when you'll want to be completely hands off or you'll not be able to do it, vacation, retirement, etc.), including...
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24 June 2019 | 4 replies
., treble damages) that were awarded to you in order to punish the defendant are also generally taxable.You should discuss the settlement with a CPA to ensure that you adequately apportion your award to each category and withhold tax appropriately.Note: Although I am an attorney, I am not licensed in your state.
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24 June 2019 | 1 reply
Due to the nature of my job (I move around a lot), I HAVE to invest out of state.
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27 June 2019 | 9 replies
(d) The landlord and tenant of any dwelling unit other than a single family residence may agree that the tenant is to perform specified repairs, maintenance tasks, alterations, or remodeling only if:(1) the agreement of the parties is set forth in a separate writing signed by the parties and supported by adequate consideration;(2) the work is not necessary to cure noncompliance with subdivision (1) of subsection (a); and(3) the agreement does not diminish or affect the obligation of the landlord to other tenants in the premises.
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26 June 2019 | 6 replies
Its the nature of the game.