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16 May 2024 | 1 reply
I know I could go through a Lawyer that does some local title companies docs and when I called I was told its about 500 plus the title search fee if I wanted one.
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15 May 2024 | 12 replies
For example, they can finance up to 70% of the ARV meaning, if you have a perfect 70% deal (purchase price and rehab are withing 70%) they will cover those cost for you.you will still incur closing cost, taxes, and insurance cost though for example.True 100% financing (ZERO out of pocket) typically requires solid relationships with private lenders or a combination of hard money lender and private lenders.
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16 May 2024 | 10 replies
According to the Fair Housing Act and the Americans with Disabilities Act:Even if a landlord has a no pet policy in place, the law does not consider service animals as pets and therefore the service animal is exempt from such a restriction.Service animals are allowed anywhere a person would go, including food areas that would normally restrict an animal’s presence.Landlords cannot charge a pet deposit or pet fee for service animals, however the tenant is liable for any damage that the service animal may cause.Landlords can require written verification from the tenant’s health care provider that they are disabled but cannot ask for any specifics about the disability.Landlords can require written verification from the tenant’s health care provider that the service animal is needed.Landlords can request copies of the animal’s health records to prove the animal is in good health, parasite-free and immunized/vaccinated.Landlords can write warnings or even evict a tenant with a service animal if the animal is disturbing others, posing a threat to others or causing considerable damage to the property.In other words, you can ask for appropriate paperwork concerning the tenant’s need for the service animal and to verify the animal’s health.
16 May 2024 | 5 replies
Once you get a little experience and have learned a few things from using tenant cloud, etc... it may be easier to screen without paying extra fees, but that's just me, I like infrastructure when I'm new at something.
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16 May 2024 | 9 replies
Generally 25% minimum will be needed as a down payment and 6 month reserves of mortgage, property taxes and insurance and a minimum $100K loan amount.
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13 May 2024 | 2 replies
Would the property taxes on this property be taxed at the residential rate?
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16 May 2024 | 74 replies
Still analyzing every day but having trouble finding deals that cash flow after rehab, especially with the property taxes.
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16 May 2024 | 4 replies
Also you need to figure out how you intend to cover inevitable property damage done by guests but there are plenty of solutions for that in the marketplace where guests pay a flat fee per reservation in lieu of a deposit and you get covered for an assortment of potential issues (bad checks, credit card chargebacks, fraud, personal property damage, etc.)
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16 May 2024 | 13 replies
It will increase tax rates on STRs from residential to commercial, so from 6% to 28%.