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24 May 2024 | 6 replies
This house currently has no renter though they are actively looking to put one in the home.House 5. rents for $725/m the loan will cost me $13,000 as a down payment and $6,000 closing costs, and should cash flow approx $275/m after mortgage payment are made.House 6. rents for $725/m the loan will cost me $14,000 as a down payment and $6,000 closing costs, and should cash flow approx $250/m after mortgage payment are made.To be able to make this down payment I have the option to:HELOC my current home which cost me about $850/m in repayments OR I can find a hard money lender who would be interested in working with me, I am currently putting together a hard money lender proposal to show a couple family members that would basically look like this: No repayment in the first 12 months, all income going into an account to allow for repairs and emergencies, after that taking the cash flow and splitting it 75/25 to the lender paying it off in approximately 13 years, sooner if we can make extra payments on it and giving the lender an 8% return on his money(about .5% less than what I was quoted for my HELOC).ORI can potentially do a deal with my brother who is also looking to get into real estate and we split the properties 3 a piece.These properties are right outside of a military base in a low income city but have done well for the family currently owning them with consistent long term renters in them.I am looking for any advice as to whether or not this is a deal worth pursuing.
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27 May 2024 | 2 replies
NC general statute states the following:- when this refers to a "trust account," does this indicate an actual trust or a checking/savings account labeled as a trust or escrow account?
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30 May 2024 | 63 replies
Because I have reached a certain level of success, my time is worth more than a few extra percent on the return.
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28 May 2024 | 5 replies
Our firm only checks emails on Mondays and Thursdays, but our clients know that and also know they can call us anytime.
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27 May 2024 | 6 replies
You always want to make sure the guest has actually paid before sending check-in instructions.
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27 May 2024 | 9 replies
I just feel like going deep into rabbit holes like this aren't worth my time and effort tbh.
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28 May 2024 | 26 replies
Then find out if rules were to ever reverse, do the CC&RR's have a clause protecting existing rental permit owners so they are grandfathered in despite any changes in the future.Also, check the OTA's to see if anyone in this desirable lake location are advertising their 30+ day rental.
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30 May 2024 | 13 replies
I would check that language clearly in SF's ordinance because many times approved ADUs don't change the designation and most programs go off the parcel or APN designation, as long as the additional ADU was added legally.
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27 May 2024 | 9 replies
Also check out the various meetups on Facebook or meetup.com.
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27 May 2024 | 6 replies
I have an investment property worth ~1m with a note on it for just under 500k.