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29 May 2024 | 4 replies
Lucy,It does look like you are referring to the minimum interest, or prepayment penalty, of your existing lender as well as the 'seasoning' period of any potential new lender.Most HMLs won't have a prepayment penalty on a rehab-bridge loan, but a lot of long term refinance lenders would require a period of time after you purchase it before they would take the new 'after repair value' (or, seasoning).
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27 May 2024 | 3 replies
In my experience, people with an athletic or military background understand the value of hard work and also realize that consistency will bring results eventually.. every set back is an opportunity to learn, grow and get better for the next at-bat.Training and onboarding:As far as programs or tools, I've tried monitoring CRMs and more in-depth platforms (like Sisu) to track agent activities/KPIs.
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27 May 2024 | 4 replies
Research them away from their reviews and see real experiences.
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30 May 2024 | 13 replies
Right now if my kids inherit my rental property it will be reassessed to market value and their property tax will skyrocket - it takes a while, maybe a year or so after the death of the parent for all that paperwork to go through the county assessor's office.
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27 May 2024 | 9 replies
We feel very confident in our underwriting, but given the jump that we made from SFH to an apartment building, we want to ensure we're not missing steps in our DD/inspection plan.Here's our current plan:1) Have a general inspector complete a Property Condition Assessment.2) Have specialists complete an evaluation of the roof, electrical, foundation, and heat source (2 steam boilers).3) Review financials, all leases, existing service contracts, rent roll, tax assessment, rental certificate, and 12 months of work orders.Here's what I'm not sure about:1) Are there DD items (specifically those that we would request from the seller) that are not captured within #3 above that we should be requesting?
29 May 2024 | 7 replies
In the time before real estate gurus and do-it-yourself deed prep kits, there were rules about when which deed was appropriate to use.General Warranty DeedWhen a property is conveyed to a purchaser for value, the buyer usually demands that the seller promise, or "warrant" that s/he has good title to the property, and that the buyer won't be harassed by any claims on their title.
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29 May 2024 | 21 replies
With social media, or any other type of marketing you need to understand VRIN scores: V stands for value.
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30 May 2024 | 31 replies
For numerous reasons we decided to sell, and received at offer from the Church that was one of the occupants, for a price equal to appraised value.
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29 May 2024 | 8 replies
As for property taxes, look at the recently sold duplexes in your area and multiply that value by the tax rate in your county.
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27 May 2024 | 3 replies
I know RentRedi uses Latchel but the reviews I have read have left a few concerns.