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15 January 2025 | 34 replies
More than enough to cover the check written on the undisclosed transaction account.
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10 January 2025 | 21 replies
We have done it both ways where we fund purchase and they cover rehab but if the individual is less experienced we do not do it that way, we have them put more money into the deal from the start and fund the draws, reason why is we also had a deal where the person said they would do this and never did anything and property sat and loan matured and it was a pain.Just recognize you will still not get 100% financing for the purchase, so you are putting money in up front.
12 January 2025 | 10 replies
This fee covers all other services from us including underwriting, appraisal, legal, wire transfers, etc.
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7 January 2025 | 8 replies
We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.
10 January 2025 | 5 replies
From what I’ve read in The Economist, short-term construction loans or hard money financing could be a great fit to cover the $90K needed.
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12 January 2025 | 20 replies
Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.
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7 January 2025 | 7 replies
Assuming you don't have a mortgage that requires a certain level of insurance, you can get a stop-loss policy covering all the properties.
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7 January 2025 | 5 replies
There is statutory, and as you pointed out, now Fannie/Freddie guidelines, that exempt many transfers from being subject to the Due On Sale Clause...asset protection/estate planning purposes are covered.
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6 January 2025 | 25 replies
That said, if your insurance doesn't cover certain breeds, then you need to deny those breeds - until the law is changed or you find a different insurance provider who will cover them.There is definitely a law about dog bites, though.
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3 January 2025 | 3 replies
You can cover the wire mesh with drywall patches (they tape on wall and across the wire, white/paintable, different sizes) as the wire mesh is what will prevent the rats from eating their way into the property (the covering material is cosmetic only).