Alex Lucille
Need advice on my North Seattle rental
28 August 2017 | 5 replies
., property appraised for $475k so we pulled 70k our by refinancing into a 30yr @3.75% with a principal+interest payment of $1600 + 300 for taxes and insurance and rented it out for $2500/mo, renter pays utilities, we manage the property, new loan amt is $340k.Other identical townhomes in our development and others like it have sold for $600k, so I would say that I could conceivably sell the home once the current lease is up and walk away with $200k factoring in all selling costs.I expect that we will be able to raise rent to 2700-2900 in the next 2 years or so and possibly up to 3200 in 2021 as there is a light rail being constructed that will drive a lot of demand from people commuting to downtown seattle.Specific Questions:Since I refinanced and took my initial investment out of the property, this seems to skew all of the standard evaluation metrics (IRR, Cap Rate, etc...), if I factor equity into the equations this looks like a terrible return and if I don't its a great return.
Payton L.
Outdoor pet is now an indoor pet
1 October 2017 | 18 replies
You have verification from the worker / vendor the dog was inside.Give notice that the dog must be removed or they can choose to go with the dog.
Wayland Willingham
New Property management Company needed in Minneapolis, MN
6 June 2018 | 11 replies
If they are VERY professional, they will have their processes in writing as verification that it is enforced equally and fairly by their entire staff. 6.
Beverly Mims
Qualifying New Tenants
13 September 2016 | 7 replies
We perform over 50,000 verifications per month for the past 9 years, and have literally heard EVERY story and lie you can imagine.
Alex Aronson
1031 exchange applied to existing property?
4 June 2019 | 18 replies
If the units are identical and you're going to live in one and rent the other then it is really two pieces of property for 1031 purposes - an investment property and a primary residence.You can absolutely use your 1031 exchange to purchase the investment portion of that duplex.
Account Closed
Secondary Credit Number ?
16 June 2015 | 31 replies
I will try to get verification of that today.
Maryann L.
Anyone care to chime in?
29 August 2010 | 60 replies
Bill if you have 2 identical homes sitting side by side both priced at $250 but one is listed as a short sale which one do you think your RETAIL buyer who wants to close in 30-45 days is going to pick.
Dev Horn
Marketing Ideas for Multi-Family (4 to ~40 units)
16 June 2015 | 31 replies
Allows us to define MF property types, # of units, market value, and equity % just like we do with the data on SFRs.BRAND - When you have a brand that is all about buying houses, you have a challenge when going after MFs regarding your identity.
Louise Whidby
Legal Description
20 July 2013 | 7 replies
In any settlement make sure the legal descriptions are identical, letter for letter, number for number, on deeds, title insurance, mortgage documents and releases if any.
Nkrumah Morgan
Why the LLC?
15 December 2013 | 8 replies
Only a CPA/attorney can tell you what the best structure of your business is.The best reason is generally that LLCs are easier to manage from an accounting and legal standpoint than a corporation, but from a tax standpoint, they can be treated identically.