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8 August 2024 | 1 reply
I'm beginning my subsequent continuing education for my salesperson license, and was wondering what courses you would recommend to look into?
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13 August 2024 | 5 replies
For example this sheet is saying your NOI for year 1 is 52,548 which divided by 700,000 which is your purchase price comes out to 7.5% I have to say without knowing a single thing about this property other than the approximate location 7,000/mo seems high unless this is some kind of huge house you're doing rent by the room.
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14 August 2024 | 9 replies
We use a YTDpaystub and last year’s W-2(s) to calculate income several different ways:Hourly or salary income calculated to a monthly amountYTD income divided by number of YTD monthsYTD + W-2(s) income divided by the corresponding number of monthsIf these numbers vary too much, then we investigate and require an acceptable Letter of Explanation.Employment StabilityUnless an applicant has exceptional credit, we strive to determine their stability of employment to make surethey’ll always be able to pay the rent on time.
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12 August 2024 | 6 replies
I bought a property that I was told was empty for 1 year, when I suspect it was empty for 4 years actually.
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12 August 2024 | 13 replies
Basically ~50 years including my mom’s rental without an eviction.
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11 August 2024 | 0 replies
Since the same reporting period last year, asking rents have climbed by 0.8%, up from $41.89.
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12 August 2024 | 6 replies
Also, do not compare costs over a 30 yr period - very few people keep the same mortgage for 30 years. 5-10 years is more realistic.- Overlays - some lenders may have more restrictive overlays than Conventional guidelines call for.
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9 August 2024 | 184 replies
Plumbers , electricians , HVAC , need time in the field under a master before they can be a journeyman and more years before they can sit for the test for their masters license .
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12 August 2024 | 1 reply
You would have to get a relatively short term loan (5 years or variable) to buy the property and fix it up.
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8 August 2024 | 2 replies
As a side note- some states are very strict about inspector licensing, some are not, so you might find that out before you go down a rabbit hole.