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17 March 2020 | 13 replies
Two have product priced to move, the rest are trash, they do not want more business.It's capacity.
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22 March 2020 | 5 replies
Far too many ways to detail, but here are just a few:Fees: all kinds from what you may be charged on a checking account (a few dollars) to what IBs charge their corporate clients (tens of millions of dollars or more).Services: This includes everything from servicing your mortgage (large banks rarely, if ever hold these on their own books) to physical check processing to running the backbone of payment services that allows you to buy nearly anything anywhere with just a small piece of plastic you keep in your wallet.Money management: Whether for individual (i.e. very wealthy) clients or managed products like a mutual fund.And so, so many more ways.Will there be less income for the banks?
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17 March 2020 | 1 reply
There are plenty of low-down payment products out there that could get you in a triplex for very little out of pocket.If you do partner, to keep things clean, you should pay market rent and then all the partners split whatever cash flow is generated.What part of Roanoke is this in?
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17 March 2020 | 10 replies
I'm pretty sure that the best bang for your buck product around.
6 April 2020 | 13 replies
The “key” elements of the transaction are explored first and usually, the most intensively.The buyer should provide the seller a comprehensive disclosure statement and include a term in the purchase agreement that obligates the seller to return the document within 5 days of acceptance.Professionals are hired to complete Phase 1, 2 & 3 reports that identify potential or existing environmental contamination and all other elements of elements that are difficult for the buyer to effectively evaluate.Financial Checklist3 years profit & loss statementsRent roll with space number, name of resident, move-in date, renter or owner occupied, number of occupants, monthly rent, additional charges, current balance due and any relevant notes about the residentList of capital expenditures for the last 3 years3 years of tax returns12 months of bank statementsCurrent accounts receivable statementList of park owned home including copies of “rent to own” or sales contractsCopy of all current insurance policies, binders and premiumsSpreadsheet detailing who pays all utilities including water, sewer, gas, electric, trash, cable, etc…For all utilities and charge backs, formulas, calculations and meter readings for the past 12 months3 years of utility billsProperty tax bills for the last 2-3 yearsCurrent staffing list including position, wages, job descriptionsCopies of any contracts that will transfer to buyer including laundry, trash, phone, equipment, etc…Dates and amounts of the last 3 rent increasesSigned rules and leases for each residentNames and contact information of professional service providers including lawyers, accountants, engineers, insurance brokers, inspectors, appraisers, realtors/brokers, etc…Physical ChecklistSpreadsheet for utilities that details age, composition, capacity, physical locations, etc…Any drawings or maps of the park and infrastructure including lot sizesSewer plant or septic system repair and maintenance recordsWater well tests and compliance recordsDisclosure from seller of current or recent problems with infrastructure including buildings, water, sewer/septic, gas, electric, etc…Names and contact information of contractors including plumbers, tree surgeons, electricians, gas inspectors, septic companies, roto-rooter services, etc…Locale ChecklistProfile local housing market:“Stick-built” – current foreclosure rate, months of available inventory, median home price, average rent per month, vacancy rateApartments – average rent per month, vacancy rate, prevalence of move-in specials…MHPs Comps – average monthly charges (rent, utilities, etc…), vacancy rate, # of homes for sale, etc…Profile local economy including population, major employers, unemployment rate and trendsCopies of city, county and state permits, licenses or certificates of occupancyCheck zoning for recent or pending changes to target property and adjacent parcelsCheck for known environmental issues with target property, adjacent parcels or in the communityCheck for major development or construction projects in the communityReview existing surveys or environmental reportsConsider geographic factors including elevation, annual snow fall, rain fall, proximity to bodies of water, etc…Disclosure from seller of current or recent lawsuits, regulatory or compliance issues, fines, fees, etc…
26 March 2020 | 54 replies
For example, don't have any physical contact with people, have available (and use) hand sanitizer, keep a safe distance from people and allow them to walk around the property themselves (no need to follow along with them).
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19 March 2020 | 41 replies
Know the over all numbers for that market (i.e. demand, what homes values are, rental values for 1,2,3,4 bedrooms), what pockets are good, what pockets are average, what are great pockets. 3. have a good lender and know your options for lending products ** The more you know- the faster you will be able to assess a property, and the faster you can snatch it up.
28 March 2020 | 24 replies
I'd like to flip houses because one of my creative outlets is in music production, and just like home restoration, it gives me the ability to create something out of what appears to not have value, and by doing so providing a service to others.
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17 April 2020 | 18 replies
@Andy MirzaI just closed a fund and have had several investors bail because they either needed funds elsewhere or were scared.I think people are panicking and do not realize note investors do not wish for a bad economy but their product is produced from it and in bad times it produces the potential for greater opportunity.Cuyahoga county put a 60 day stay on all foreclosure and eviction cases and my guess is the rest of Ohio will as well
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22 May 2021 | 27 replies
I am also prescreening people on the phone much more closely, to make sure that individual showings are productive.