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29 June 2020 | 4 replies
You don't need to know everything to get started; you just need a foundation to build on and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.
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19 June 2020 | 20 replies
The rest comes from somewhere.
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11 June 2020 | 0 replies
There is also an addition in the back of the house which doesn't have terrazzo flooring.I believe I have four options:1: Remove old tile and refinish the terrazzo floors and throw laminate flooring for the addition2: Remove old tile floor and throw laminate flooring so that all flooring is the same throughout the house3: Throw laminate on top of the existing tile4: Remove old tile and refinish the existing terrazzo and new terrazzo flooring for the addition to match the rest of the property.I will be using this as a rental, I want to be budget friendly but I dont want to waste money in the long run.
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23 April 2020 | 5 replies
There are 2 SFRs in there that are A-/B+, the rest, including all the MFs are C/B-.
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16 May 2020 | 21 replies
Are you in touch with any city officials or experts on the local economy?
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22 April 2020 | 2 replies
We should instead work together to build a solution that ensures the moral support needed to get to a better place in life.I think the way the whole organization is structured will also provide another sense of accountability towards each other.Create a “Flip to Own” plan that lets future tenants be more involved with the initial renovation between occupants.Create a transparent “Monthly Operation Payment” that includes:An investment buy in (market value amortized over 30 years @ current market rate + .3%).Taxes & insurance (will also need renters insurance).Utilities (goal is to have a history of avgs, but will be paid as billed).Any cost associated with labor support for “Property Stewardship Guide” (basic cleaning and lawn care).Repairs and Maintenance budget (.1% market value, any expense related to maintaining current market value/ rent ready condition).Capital Expenditures- Major repair budget (.1% market value, any expense related to increasing market value and capital expenditures).Good neighbor assistance dues (.1% market value, covers accounting costs and assistance access).Create an app that makes monthly property management an easy habit.Pull information from Property Stewardship GuideIt keeps track of all the costs that determine the monthly payment, including utilities.It has a checklist of that months maintenance tasks, based on the standards of the GNA, that ensures the most effective life of the property.Have a portal to submit rent payments, using paypal or similar services.Build in an option to apply employee wages from the GNA as rent payments.Have a profile page with all the important dates and documents.Leverage these managing residents to build a coalition of labor support for the rest of the properties under the GNA umbrella.If they are all employees of the GNA non profit, then we can distribute benefits including healthcare, retirement savings, etc.Create a rolling pay scale:Offer work in exchange for equity ownership in other projects.When the current managing resident is ready to move, they can either cash out remaining repair budgets and equity, or leave their equity in and share the profits with GNA equal to their equity share.The managing resident will partner in the process of getting the house back to full market standards.Use the stockpiled repair budgets to fix their respective categories.Use built up equity if repair budgets don’t cover that cost.The remaining repair budgets will be applied as a direct principal payment.If the managing resident wants to cash out, then the GNA will buy back the property at the current market price.Both parties will pay their traditional closing costs if applicable.If the managing resident wants to remain an equity partner, then the title is changed to reflect that business relationship, and the managing resident receives monthly payments equal to their share of rental profits or interest payments of the next resident.Previous managing residents must create and manage their own LLC.If the previous resident has more than 50% ownership in the property, then they are in charge of managing the property.The monthly payment for the previous residents equity will be equal to their percentage of ownership times either the interest earned from the next resident’s purchase, or from the profits if it is run as a traditional rental.
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26 April 2020 | 7 replies
They agreed to close the complaint on the emotional support animal, and did agree with me that the animal could not be unsupervised and cause damage to the property, but when I asked them for guidedance on the community control and the fact the mental health and probation officials trained to supervise her were using virtual supervision due to Covid-19 and I as a 63 year old grandmother was being force to come on-site to mediate conflicts they told me to seek legal counsel.
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25 April 2020 | 1 reply
You could borrow some of the purchase price and use your HELOC for the rest.
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26 April 2020 | 7 replies
With that in-law, you can either live in that or the main house, and subsidize the rest (or ALL) of your mortgage.
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26 April 2020 | 5 replies
Using the private money as a DP and then getting bank financing for the rest of the purchase probably isn't an option, @Troy Deverill.