Marita Jojo
Title company saying non essential business closed
27 March 2020 | 23 replies
I'm scheduling closings as normal in Illinois but essentially only the buyer and buyers attorney should be there.
Chait Borade
Purchasing 4plex vs Duplex in Anchorage AK
23 March 2020 | 7 replies
While there's lots of fear with volatility I can't help but to think that isn't this when we make more money than normal?
Chris Lopez
Denver Coronavirus updates and Q&A
16 April 2020 | 72 replies
We think it is important to look at Denver real estate in 5 day increments since corona virus became real (I'm saying March 12th, which is when the NCAA canceled the tournament.)GETTING HELP NOWNYTimes - Money MattersUnemployment - law expires 12/31States can access when they have 10% rise in unemploymentUnemployment is typically 45% of lost incomeMost states pay 26 weeksDon’t have to lose your job, can get it if: you are quarantined, furloughedGetting unemploymentHave to have been at job for 30+ daysEligible for 2 weeks paid if ill or quarantined or caring for sick family memberPart time workers can get average of normal 2 week salarySelf-employed (gig workers, etc) must calculate daily average and claim as tax creditWho is exempt:People that work at companies that employ 500+ peopleCompanies with fewer than 50 people can ask for an exemptionEvictions + ForeclosuresMoratorium right now on bothSuspended for 60 daysThis includes foreclosures that are in processTaxesCan hold off on paying (without penalty) until July 15th if:You owe less than $1 million to the federal governmentIf you are getting a refund, it will come in a normal time frameMortgagesFind out who owns your mortgage + what programs are availableRequest Assistance (Fannie Mae)Small Business ReliefSBA Economic Injury Disaster LoansSmall business loans up to $2mil3.75% int rate for businesses | 2.75% for nonprofitsDenver Small Business ReliefDENVER RE TRENDS - please note you should watch Seattle, as what happens there will likely come to Denver and Colorado SpringsPulled data for detached/attached homes within 6 miles of a client property in Sloans Lake$350-$500KMore properties went under contract in past 5 days than in two other 5 day increments we recorded (11-15, and 16-20 days out)35 of those were on the MLS for 6 or fewer days$500-$700KSimilar to above, 5 days out is beating number of houses that went under contract 11-15 days out and almost the same as 16-20 days outCitywide: 2.4 homes were falling out of contract/day in March. 5.8 for Feb. 2.7 for Jan.$800-$1.2Mdown from 5 day increments before, but not significantly and a small data set
Natalie Cloutier
Coronavirus: email to send to your tenants
14 April 2020 | 160 replies
Stop playing by rules in a normal economy.Please look up the word MULLIGAN.
Jake Beatty
Help me analyze this deal
21 March 2020 | 1 reply
Normally for a sfh i use $50 per month. let's look at 1 item in a capex budget.
Andrea Gillis
Tenant Screening Red Flag? Asking for advice and opinions
23 March 2020 | 11 replies
This is my first time ever screening anyone, so I wasn't sure what was normal.
Gavin Henry
Potential Wholesale Deal
21 March 2020 | 4 replies
I have a seller who is asking for $320K for his home (3 bedroom/ 2.5 bathrooms 2100 Sqft in Parkland FL) I ran the comps and the price for the home is within normal range.
Coral Hernandez
What is Hard Money? How to; Should I ; Pros and Cons
20 March 2020 | 0 replies
A loan that is Secured by a piece of Real Estate PropertyThe funds are generally issued by Private Investors or CompaniesThe Borrower will receive Funds based off of the Property being purchasedThis is considered an All Cash Offer and TransactionTypically, the Length of Loan is a 12 Month TermA Hard Money Lender is an asset-based lenderClosing Times are generally 14 days or lessFinding ways to use other people's money along with your own is essential in Real Estate Investing, that is, if you want to be successful.You are giving yourself the ability to invest in properties you normally would not have been able to, or would have had to wait substantially longer before doing so.Depending on your Real Estate Strategy, the number of houses you can purchase and Flip/Rehab in a given time period, will determine how successful you are.
Mike A.
Closed on building. Need suggestions on a welcome message
23 March 2020 | 1 reply
Normally, we just go over and introduce ourselves, but the Coronavirus killed that.
Katrina Gillrup
Are your rental applications slowing down?
21 March 2020 | 2 replies
My guess is that applications will return to normal once we all return to our normal.