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14 September 2018 | 2 replies
Entire security deposit of $1000 is gone to the unpaid rent.
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10 August 2018 | 1 reply
2) Whether or not advertising on my own website constitutes a general solicitation to the public for a securities offering.3) Whether or not I need to be registered as a broker-dealer for providing investment advice with respect to recommending the purchase or sale of securities.I absolutely plan to consult my attorney on these questions but I’m also looking for some experience based answers and a place to look some of these things up in black and white in order to have a more productive and informed discussion with my attorney.Thank you everyone!
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14 August 2018 | 4 replies
An experienced co-op listing agent will know how to vet buyers and financially qualify candidates for board approval, will know how to present atypical candidates, will know how to put together an iron clad board package, etc.
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24 April 2019 | 2 replies
I will also explain why I think security tokens will see widespread adoption in the coming years.1.
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2 September 2018 | 1 reply
Assume an accredited investor and no securities law issues for simplicity.1) Homeowner pays for a legitimate appraisal.2) Homeowner grants the right to Investor to receive 10% of any appreciation above the appraised value when and if the house is sold.3) In exchange, Investor pays the homeowner an amount equal to 10% of the appraised value, with 20% down and the rest on an interest-only promissory note held by Homeowner.4) The note bears interest at Prime + 0% and does not have any origination fees or prepayment penalties.5) The investor gets credit for 10% of the eventual net proceeds from sale with the net being 10% of net sales proceeds less the remaining balance of the loan.6) If the investor defaults on the loan and fails to cure the default, the claim on the equity is forfeited.7) The homeowner remains fully responsible for costs of maintenance, insurance and taxes, but this is offset somewhat by the interest on the loan and the cash received upfront.8) Presumably if there is a gain beyond the homeowner's basis, there is no tax for now unless the proceeds exceed $250k for an individual or $500k for a couple.
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6 September 2018 | 10 replies
Living the way Stanley showed us has been extremely kind to our net worth, financial security, and mental health in running out little property business, and every time now I read something on the Web about how The Millionaire Next Door was a myth and a fable about a false cohort of people and no one could possibly take the ideas laid out in it seriously and they couldn't possibly work today to help make anyone financially secure, oh wow do I laugh, and it's the rich, satisfying laugh of a guy who's laughing last.
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11 August 2018 | 3 replies
I’d like to finance the property to someone who maybe can’t qualify for a conventional loan and secure a loan for them at slightly above or at the market interest rate.Does anyone know how to go about doing this from a legal/underwriting perspective?
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16 August 2018 | 6 replies
If you have a security deposit, that's your bargaining chip.
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13 August 2018 | 20 replies
They have a good insurance package, but finding a home is tough.
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12 August 2018 | 11 replies
The tenants’ security deposits should transfer to the new owner (you in this case) because you’ll ultimately be responsible for returning them to the tenants when they move out.