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12 November 2024 | 6 replies
If so, then it could get messy. 5% down is conventional so I don't think it would show on an appraisal, in that case you could work on doing an escrow holdback i.e. the seller holds a certain $ in escrow with the title company based on the quotes you receive.
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17 November 2024 | 33 replies
That is basically an extra tax return, legal fees for setup, bookkeeping costs (if you aren't doing it yourself), possibly an umbrella policy.
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15 November 2024 | 5 replies
If the rents were collected after closing and they were not addressed in the sale, then you shouldn't have a legal obligation to give them anything.
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11 November 2024 | 4 replies
Zillow is a mess. I
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16 November 2024 | 6 replies
BP has some and also you can use Legal Templates to create one.
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19 November 2024 | 8 replies
If you use a DSCR rental loan it could be as low as 3-6 months of time seasoning required so it depends on what product you're using to accomplish the mission/goal.The time frame isnt a legal requirement, its a financing product specific requirement as a guideline to obtaining the money in which you seek.If you had other scenario related questions feel free to mention them below or via DM.
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18 November 2024 | 14 replies
For both the applicant(s) and a co-signer, you want to understand their habits...financial, employment, legal, character, etc., as Bad habits in one area typically carry over to other areas, and will land you a poor Tenant (or co-signer) choice.
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17 November 2024 | 5 replies
Assuming that the act of wholesaling is legal in your area, have all the costs associated with closing go through the title company.
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17 November 2024 | 1 reply
Time the Sale Strategically: Selling the property in a year when your income is lower can place you in a lower capital gains tax bracket, reducing the tax rate on your gains.8.Deduct Selling Expenses: Costs associated with selling the property, such as real estate commissions, legal fees, and advertising expenses, can be deducted from your sales price, thereby reducing your taxable gain.9.
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15 November 2024 | 3 replies
I currently only have 1 duplex, however I want to set this up right so it will work for any size portfolio.Currently I haveHome folder>multi family/single family/legal documentsInside the multi family I have Name of property-> general property maintenance/first floor/second floor Inside of first floor (the one currently rented)I have, pictures (before and will have after) / lease documents / a spreadsheet with each month, what day rent was paid, if it was late, if late was fee paid?