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3 February 2014 | 15 replies
Even if they're willing to settle for $2k, and that's worth it for your situation, I would rather offer them $4k in pre-paid HOA dues to cover the next X years in exchange for wiping out the back-dues - rather than paying $2k in expenses for someone else's debt..
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13 May 2008 | 40 replies
Also homeowner may be looking to convert to a chp 7 if things didn't work out.If they filed a chp 7 it'll be in the paperwork if their confirming or reaffirming their debt.
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28 March 2008 | 11 replies
For the mortgage debt, you have:Debt: ($60K, 30 yr, 7.125%): $404 I would be putting down 20%, so the mortgage amount would be $48K.
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25 August 2008 | 8 replies
But I don't think there is anything magic about it, in the end it's just all the knowledge you can find in these forums, and then combining that knowledge with your own initiative.
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28 March 2008 | 23 replies
Taxes, insurance, debt servicevacancy rate, repairs, mantaince, utility bills ( a vacant unit in Indiananeeds heated in the winter to prevent damage).
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9 April 2008 | 6 replies
Also, the amount you put down has no bearing on the cap rate, only on the debt financing and ROI.If your maximum cap rate you are willing to pay is 8.5%, then the max offer price should be $277,000.
20 March 2008 | 14 replies
An investor friendly lender or mortgage broker is going to understand that, and work with you to get the loan.For commercial properties, the ratio of the NOI to the debt payments is called the "debt service coverage ratio" or DSCR (or some variation on that theme.)
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28 March 2008 | 9 replies
But until that day, its a bad debt you're unlikely to collect.
13 April 2008 | 1 reply
If you have enough income to service the debt at a ratio of 1.20+ then the borrower (sponsor) is secondary.
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2 June 2008 | 9 replies
There is NO place where the money can be used for other than narrowly defined needs, and owner debt is NOT one of them.