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11 March 2024 | 6 replies
Even where its legal, you might be required to do it anyways.
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10 March 2024 | 15 replies
The more instuitionalized hard money or bridge sources are like fannie/freddie/agency loans where they have minimum requirements to sell their note/paper to investors in the markets.
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11 March 2024 | 6 replies
Most lenders don’t consider manufactured or mobile homes real property and there are lots of requirements and stipulations a buyer has to meet to qualify for a mortgage.
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11 March 2024 | 5 replies
Again, you will likely need a key principle to co-sign your loan (typical financial requirements are 10% of loan balance in liquid assets and 1:1 net worth to loan balance), but Fannie and Freddie are both well versed in lending to LLCs where the GP has minimal capital personally invested in the deal.
10 March 2024 | 7 replies
I noticed some 1031 intermediaries have stated there is no legal requirement for "time limit" after the exchange is complete to quit claim to an LLC, but some recommend holding it in the same title for "some time."
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11 March 2024 | 6 replies
As for how to gauge fair value that's easy and never requires comp's, because revenues is what matters to you right?
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11 March 2024 | 12 replies
I am interested in knowing, if you can share your strategy highlights regarding the fact that your properties are all doing well with respect to appreciation rather than cash flow, and I completely agree that travel would be required to pursue cash flow.
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11 March 2024 | 7 replies
It is true that you may miss out on this home, if sold this week, but also consider the Joy Of Missing Out (JOMO) by not overpaying for this property and also footing the bill for many of the potential repairs required for a 120+ year old home as mentioned above by the previous commentors.I would encourage you to take a contractor with you to the open house or someone with experience in this age of home to give you some insight into the property and what may need to be addressed in the first few years of ownership.
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11 March 2024 | 7 replies
Tenant agrees to comply with all duties required by Wyoming Statute §1-21-1204: maintain the Premises in clean and safe condition and not unreasonably burden any common area; dispose of all garbage and other waste; maintain all plumbing fixtures in a condition as sanitary as the fixtures permit; use all electrical, plumbing, sanitary, heating, and other facilities and appliances in a reasonable manner; prevent water pipes from freezing by turning off outside spigots, disconnecting hoses, and keeping the rental heated to at least 50 degrees; replace lightbulbs, air filters, water filters, and other consumables as needed; test smoke detectors every six months and replace batteries as needed; immediately notify Agent in writing of any defects or dangerous conditions Tenant becomes aware of; replace broken or cracked glass, no matter the circumstance of breakage, unless the Tenant provides Agent with a police report detailing breakage beyond the control of Tenant; pay to repair anything damaged by the Tenant, his guests or invitees, whether through intentional act or negligence; upon termination, remove all personal property and garbage either owned or placed on the Premises by Tenant and clean the Premises to the condition at the beginning of the AgreementCreate a policy and stick to it.
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11 March 2024 | 3 replies
There are payment processors which do the same thing your bank does but have some support for obtaining the authorizations required.