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10 March 2024 | 2 replies
@Ayyoub Reza There are a number of places to get agreements but make sure you get one that is current and state specific (here, legal zoom, a lawyer, real estate association ) Read your HOA bylaws what does it require to be included.
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11 March 2024 | 3 replies
You can get financing but it must be non-recourse and requires 30-50% down with 10-15% in reserves.
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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.