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20 April 2024 | 0 replies
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
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25 April 2024 | 209 replies
In California we have had these Buyer Representation Agreements for years and many brokerages always recommended that we use them, now it will be a requirement.This Buyer Representation Agreement will include how the Buying Agent will be compensated, terms of payment, etc......1 of 3 things will happen here: Either the Seller will compensate the Buyer's Agent (which is how things have always been done) OR the Buyer will have to pay for it through the lender's closing costs (which I doubt will happen because this will create a higher burden on the Buyer) OR in the Settlement Statement (Closing Statement) there may be some sort of "credit" for commission or "credit" towards Buyer's Agent or something like that which will required Fannie Mae and Freddie Mac approval (which I heard an inkling that it may already be approved through Fannie and Freddie)....for all you nay-sayers out there, the Buyer's Agent WILL be compensated in one way or another.
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20 April 2024 | 2 replies
I do recommend house hacking to those just starting off real estate investing.
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21 April 2024 | 25 replies
Bad reputation with some agents- We've had a number of agents recommend to their clients to reject a NACA offer.
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20 April 2024 | 3 replies
I wouldn’t recommend it, but I would never want the stress of an uncomfortable mortgage payment.
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20 April 2024 | 6 replies
We actually challenge our clients to diversify their RE portfolios amongst Class A, B and C (We do NOT recommend D!).
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19 April 2024 | 3 replies
Does anyone have any recommendations for a real estate agent that has experience with VA Loans (specifically- assumable VA loans)?
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20 April 2024 | 6 replies
Rent Roll13. property survey14. prelim title report (your broker can help with that)I DO NOT Ask or recommend my clients ask for tax returns, credit reports, bank statements - These fall into financial privacy protections and if my buyer walks from the deal, there is too much liability & risk with having that information if were to be leaked.If a third party management company has been managing it, you'll get basic information (income/expense, rent roll & leases, maintenance records, capex (maybe if they oversaw)).Owner operated properties will have less of this information as most mom/pop operators don't keep good records, in my experience.Don't worry about all this BEFORE the offer.
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21 April 2024 | 41 replies
You will want the full set of plans: elevations, electrical, mechanical, plumbing, floor plan with signatures and seals.For the mini split, some recommendations: If you're going to use 2 heads (one for living room, one for bedroom), get 2 separate single zone outdoor units (not a multi-zone).
20 April 2024 | 9 replies
Material participation might involve managing properties, handling leases, or overseeing maintenance—activities that are more hands-on than those of a typical passive investor.I recommend doing some tax planning and see what options you have .